Mortgage Credit Certificate 



VHDA Mortgage Credit Certificate

The Virginia Housing Development Authority (VHDA) offers a Mortgage Credit Certificate program that allows

  • eligible borrowers 
  • to claim a tax credit 
  • for part of the mortgage interest they pay. 

An MCC is a dollar-for-dollar credit against the federal income tax they pay. The link to the VHDA video above explains this benefit. Please do not hesitate to call with any questions. 

The credit is equal to 20 percent of the mortgage interest paid. In addition, the other 80 percent of mortgage interest paid is still eligible for a tax deduction. The MCC is effective for the life of the mortgage as long as the buyers live in the home.

To be eligible, you must:

  • Be a first-time home buyer that has not have owned a home as a primary residence within the past three years (If you owned a home that was not your primary home for the past three years, you may qualify as a first time buyer). 
  • Have income at or below the maximum limit in Northern Virginia. This amount changes each year, so you can call or check with your lender for this number. 
  • Do not exceed the maximum home price. 
  • Live in the home as a primary residence.

If you sell your residence in the first nine years of homeownership, you could be subject to a federal recapture tax. There is a list of ways you are not subject to this recapture tax, so be sure to consult a tax preparer that is familiar with MCC. 

You can apply for an MCC through an approved participating lender on the VHDA. For more information, call to attend a class already scheduled or we will try to schedule one fit your schedule - that depends on how much notice we have. You will receive a certificate for attending. 757-932-7422

Rica J Gilmore 144 Shoe Lane, Newport News, VA 23606 757-932-7422

Real Broker, LLC, 27 W 24th St. Suite 1002, New York, NY 10010, O: 855-450-0442 

The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent.

© 2019 REIN. REIN's listings Data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain complications of Data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW.

REIN updates its listings on a daily basis. 

Information Deemed Reliable But Not Guaranteed