Mortgage Credit Certificate Program

LHC’s Commitment

In keeping with its mission to ensure that every Louisiana resident is granted an opportunity to obtain safe, affordable, energy-efficient housing, the LHC offers the Mortgage Credit Certificate (MCC) Program.

This $5 million statewide program is designed to assist first-time homebuyers, veterans and low to moderate income buyers purchasing a home in designated areas. Homebuyers who use the MCC program can take a federal tax credit of up to 40% of their annual mortgage interest payments for the life of their loan. This credit is capped at $2,000 per year.

Read on to find out if this program is right for your prospective homebuyer.

Program Details

Program is available for low and moderate income first-time homebuyers.
Household income limits depend on the number of people in the household and the location of the property. Refer to Exhibit T for purchase price limits and Exhibit U for income limits).
Homebuyers can take up to 40% of their annual mortgage interest payments (maximum of $2,000 a year) as a tax credit on their federal income tax return.
Homebuyers can continue to receive the federal tax credit as long as they occupy the property as their primary residence.
Homeowners who use the MCC program must file IRS Form 8396 with their federal tax returns.

Program Benefits

The program can be used in conjunction with the LHC's down payment assistance programs.
Increases applicant's disposable income, thereby increasing borrower's eligible loan amount.
Mortgage Credit Certificates can be layered with any first-time homebuyer loan product except mortgage revenue bonds.
Master Servicer approval is not required.
Available statewide

Mortgage Credit Certificate Program

LHC’s Commitment

Program Details

Program Benefits

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