The Iowa Finance Authority has received an additional $60 million in funding for the Mortgage Credit Certificate program. This allocation amount will not appear in Lender Online until the 2018 funds have been fully reserved. At that time, the new MCC series will appear in Lender Online for reservations as MCC 2019.
When combined with Homes for Iowans/Homes for Iowans Plus:
- No borrower application fee
- IFA will reimburse recapture tax
Other non-IFA fixed rate financing allowed:
- Borrower application fee: $500
- No IFA reimbursement of recapture tax