VHDA Mortgage Credit Certificates- Boost the Tax Benefits of Owning a Home!

June 22, 2015

The Mortgage Credit Certificate (MCC) program from VHDA could save first-time home buyers thousands of dollars by reducing the amount of federal income tax owed. 

Unlike an income tax deduction, an MCC is a dollar-for-dollar credit against your federal income tax liability:

  • The credit is equal to 20 percent of the annual mortgage interest you pay
  • The remaining 80 percent may still be taken as a tax deduction
  • The MCC is effective for the life of your mortgage, as long as you live in the home

Learn more by visiting these resources: