March 12, 2018
2018 Mortgage Credit Certificate
Great news! Join us in assisting an estimated 900 Iowans achieve affordable homeownership! The Iowa Finance Authority is excited to announce that funding for the new and improved 2018 Mortgage Credit Certificate (MCC) Program is now available!

The 2018 MCC Program provides an annual credit taken against federal tax liability for eligible borrowers. The credit for 2018 is set at 50 percent of the annual mortgage interest paid up to $2,000 maximum each year. The credit is available for the life of the loan up to 30 years.

There are many new enhancements effective with the 2018 MCC program that will provide financial benefits to borrowers when the MCC is paired with an IFA Homes for Iowans loan.

  • Recapture tax reimbursement available
  • Borrower application fee waived
  • No additional reservation required
  • No duplication of documents to upload

  • Upon fully executed agreement, Lenders may begin reserving MCC’s in Lender Online. You will be notified via email.

  • NEW for 2018: Only one reservation has to be made when the MCC is paired with an IFA Homes for Iowans loan. With only one reservation, only one upload of documents is necessary. Lender will be prompted for the additional option to add MCC when reserving the Homes for Iowans loan.

  • If reserving as MCC only, select “MCC 2018” under “New Reservation” tab.

  • Invoices for Borrower Application fee (MCC without IFA loan) can be found in Lender Online>Loan Status tab> borrower record>PDF Docs.

  • Required documents:  MCC01 and MCC03 are available in Lender Online in the borrower record and on the MCC Forms and Resources web page on the Iowa Finance Authority website.

  • Only transactions with a written commitment from IFA prior to closing will be eligible to receive an MCC.
Lender Sign-up:

Please submit the following to .

More information including the Income and Purchase Price limits and the 2018 MCC Procedural Guide are available on the Lender Forms and Resources web page on the Iowa Finance Authority website.
Please contact your assigned single-family team member with questions, 800-432-7230.
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