MCC Credit

MCC is a certificate issued by certain state or local governments that allows a taxpayer to claim a tax credit for some portion of the mortgage interest paid during a given tax year. This Credit will allow lender to increase your mortgage loan amount by an average of $10,000 to $15,000 Dollars in most cases. Hows That? Lender will use the credit amount promised on your tax returns as income to qualify for Mortgage. This will allow your purchase power to increase. Sometimes Buyers are short a few thousands from their dream home and with the credit they now can afford it.