Mortgage Credit Certificates

For a member who purchases a home that does not meet the minimum guidelines for the Mortgage Revenue Bond program or who has credit blemishes, the Mortgage Credit Certificate program could provide assistance to purchase your first home.

• The same income and sales price limits apply to the Mortgage Credit Certificates that apply to the Mortgage Revenue Bond loans.
• The Mortgage Credit Certificates are issued through the NCHFA.
• The MCC provides a federal income tax credit for 20 percent of your mortgage interest payment each year.
• This reduction in tax liability will make it more affordable to purchase your first home. 

Eligibility

• LGFCU must first determine that you do not qualify for the Mortgage Revenue Bond Program.
• LGFCU must seek to qualify you for one of our in-house mortgage programs such as our First-Time Homebuyer’s Mortgage program.
• Next, LGFCU can seek to qualify you for the MCC program.

For additional information on the program, please visit the NCHFA website www.nchfa.com.