Portrait of couple with boxes in new house.

Income tax credit

up to $2,000


$475 at finance

How can a Mortgage Credit Certificate benefit me?

You may use Mortgage Credit Certificates (MCC) with most of LGFCU's mortgage products. The certificate can reduce your tax liability (the total amount of tax owed in a given period), to make buying your first home more affordable.

How does a Mortgage Credit Certificate work?

Certificates are issued from the North Carolina Housing Finance Agency (NCHFA).

If you qualify, the certificate provides a federal income tax credit for 30% of the mortgage interest you pay each year, up to a maximum benefit of $2,000 per year. There are income and sales price limits, so talk to a Credit Union loan officer for details.

The Credit Union can even process your MCC request for a non-refundable fee of $475, at the time you finance your mortgage.

Am I eligible?

You may be eligible if you:

  • Have never owned a home
  • Haven't owned a home in the past three years
  • Are a military veteran
  • Have experienced a catastrophic or natural disaster
  • Are a legal resident of the United States
  • Live in the home within 60 days of closing

MCCs are subject to approval and only available to individuals living in properties located in North Carolina.

More information about the program is available from the North Carolina Housing Finance Agency.

Next Steps

Talk to a loan officer to find out if a Mortgage Credit Certificate is right for you.