State Program
Mortgage Credit Certificate Program – Alabama
The Mortgage Credit Certificate (MCC) Program helps first-time homebuyers by providing a federal tax credit to reduce their income tax burden.
Program Details
**The MCC Program** allows homebuyers to claim a portion of their annual mortgage interest as a tax credit on their federal tax return. This *may support* increased disposable income and is **administered by AHFA**. Buyers may combine MCC with Step Up and other down payment programs to maximize their benefits.
**How MCC Helps:**
- The MCC benefit can be claimed every year as long as you live in the home and keep the mortgage.
- The tax credit does not prevent you from also claiming the mortgage interest deduction.
- You can combine MCC with other local and national down payment programs for maximum benefit.
**How MCC Helps:**
- The MCC benefit can be claimed every year as long as you live in the home and keep the mortgage.
- The tax credit does not prevent you from also claiming the mortgage interest deduction.
- You can combine MCC with other local and national down payment programs for maximum benefit.
Eligibility Requirements
- Must be a first-time homebuyer or not have owned a home in the past three years
- Must meet income and purchase price limits
- Must use the home as a primary residence
- Must apply through a participating lender
- Must meet income and purchase price limits
- Must use the home as a primary residence
- Must apply through a participating lender
Program Benefits
- Federal tax credit up to $2,000 per year
- Can be combined with Step Up Program
- Increases buyer’s net income
- Can be combined with Step Up Program
- Increases buyer’s net income
How to Apply
1. Confirm eligibility requirements
2. Apply through a participating lender
3. Complete necessary documentation
4. Receive the MCC at loan closing
5. Claim the credit on federal tax returns
2. Apply through a participating lender
3. Complete necessary documentation
4. Receive the MCC at loan closing
5. Claim the credit on federal tax returns
Program Overview
Category
State Program
Maximum Assistance
$2,000
Official Program Website
Information about this program is provided as a resource and may be subject to change. Always verify details with the official program website.
Important Note
Program availability, terms, and requirements may vary by lender and location. Additionally, programs are subject to change based on policy updates and market conditions. Always consult with a mortgage professional for the most current information and to determine eligibility for specific programs.