Mortgage Credit Certificates

What is the Mortgage Credit Certificate program?

The MCC program provides financial assistance to first-time homebuyers by reducing the federal income taxes of qualified borrowers. This has the effect of a mortgage subsidy. The purchase may be a single-family home, townhome, or condominium.

The Santa Clara County MCC tax credit rate is up to 15%

The MCC will reduce the amount of federal income taxes otherwise due from you to the goverment. Once you have an MCC loan, you simply instruct your employer to reduce the amount of federal income tax withholding from your paycheck. You receive the credit by reducing the taxes withheld from your paycheck, not as a refund later in the year. Your lender (Steve will assist you with this simple process).

MCC Application Process

Steve will work with you through the normal home buying process and help you apply for a loan from a Participating Lender who is trained to provide the MCC Program. The guideines are based on income, purchase price, prior home ownership, location of residence to be purchased and potential tax liability.

If you meet the guidelines for your county and the County still has funding for MCCs, you sign the initial application documents and remit a non-refundable application fee of $275 to the lender. Of that fee, $200 will be submitted to the County of Santa Clara with the MCC application. The website is

Important disclaimer: This is general information, not tax advice. Federal and state tax laws change frequently. We are not tax or legal advisors. Please consult a qualified tax or legal professional before acting on anything described here.

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