Mortgage Credit Certificate United States

Mortgage Credit Certificate

In North America, a mortgage credit certificate, also called an MCC, is a document issued by the original mortgage lender to the borrower that directly converts a portion of the mortgage interest paid by the borrower into a refundable tax credit. Home buyers whose self-reported income is in the lowest income bracket can use a Mortgage Credit Certificate (MCC) program to purchase a home. Mortgage credit certificates can be issued by loan brokers or lenders, however, they are not a …

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