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Mortgage Credit Certificate

Our Down Payment Assistance programs help you get into a home, the MCC program ensures you can afford to STAY in your home!

Community Investment Corporation’s Mortgage Credit Certificate (MCC) program allows first time home buyers* in the ENTIRE State of Arizona to claim up to $2,000 of their annual mortgage interest as a federal tax credit – each year and every year they live in their homes. MCCs can save homeowners $50,000+ over the life of their mortgage. The MCC program is funded by The Pima County Industrial Development Authority

*A first time home buyer is defined as a person who has not owned a home in the last three years. Qualified military veterans or people purchasing a home in a targeted area also can qualify for an MCC.

What Is a mORTGAGE cREDIT CERTIFICATE (Mcc)?
¿Qué es un certificado de crédito hipotecario (MCC)?

Program Details

 Program Benefits

  • Earn up to $2,000 in TAX CREDITS annually for the life of the mortgage.
  • Helps homebuyers qualify for financing.
  • Increase loan eligibility.
  • Reduce taxes owed.
  • Tax credit stays with you even if you refinance.
  • This program was designed for first-time homebuyers BUT there are exceptions…
    • First-time homebuyer is defined as someone who has not owned a home within the past three years
    • Qualified military veterans DO NOT have to be first-time homebuyers.
    • Applicants who purchase in targeted areas do NOT have to be first-time homebuyers
  • Must apply and gain approval for an MCC PRIOR to home closing
  • All home types – Single-family, manufactured housing, condos, duplexes, and town houses
  • Valid for properties ANYWHERE within the state of Arizona.
  • Applicant must occupy the property being purchased as a primary residence

Income limits are based on 115% of area median gross income, and vary by county – please refer to the proper county below.

All AZ Counties Except Coconino, Maricopa & Pinal
Family SizeNon-Target AreaTarget Area*
1 to 2 persons$91,600$109,920
3 or more persons$105,340$126,351
 
Coconino County
Family SizeNon-Target AreaTarget Area*
1 to 2 persons$93,854 $109,920
3 or more persons$107,932 $128,240
 
Maricopa and Pinal Counties
Family SizeNon-Target AreaTarget Area*
1 to 2 persons$96,072 $112,200
3 or more persons$110,483 $130,900
Purchase price limits are based on 90% of the average area purchase price, and vary by county – please refer to the proper county below.
 
All AZ Counties Except Coconino, Maricopa, & Pinal
Property TypeNon-Target AreaTarget Area*
New or Existing$481,176$588,104
Coconino County
Property TypeNon-Target AreaTarget Area*
New or Existing$527,526$644,755
Maricopa and Pinal Counties
Property TypeNon-Target AreaTarget Area*
New or Existing$540,422$660,515

Target Areas are economically distressed areas that are determined by census tracts. These areas have different requirements for the MCC Program.

CLICK HERE to see the Target Area Map to determine whether your property is in a target area.

One-Time Program Fee: $500

  • Payment plans offered up to 6 months.
  • Initial payment to enroll in the MCC program.

Annual Renewal Fee: $100

  • This fee begins the year following home purchase; pro-rated for first year based on purchase date.
  • Annual fees cover the tax credit for the previous year.
Example: If you purchased a home in June 2020
  • June 2020: Closed on home and paid the one-time MCC Program Fee.
  • June 2020: December 31, 2020: Mortgage interest accrues.
  • Spring 2021: File your taxes for 2020 and claim your MCC.
  • Spring 2021: Pay pro-rated Renewal Fee for use of MCC in 2020 (6 months).
  • Spring 2022: File your taxes for 2021 and claim your MCC.
  • Spring 2022: Pay full Renewal Fee for use of MCC in 2021.
  • Repeat annually for the life of your mortgage, saving up to $2,000 each year.
  1. Download application: English Application or Spanish Application
  2. You may either fill the application out with us, or on your own:
    • To fill out your application with us over the phone, please click here to schedule an appointment. Make sure to include your phone number, and we will call you at your scheduled time.
    • To fill out the application on your own, use this video guide as a reference.
  3. Upload the following require documents here: MCC File Upload
    • Your completed application.
    • Copies of your 3 most recent tax returns (federal form 1040 for 2020, 2021, and 2022).
    • A photo of your driver’s license.

For more income and purchase limits information and program requirements, CLICK HERE FOR FLYER.

Para pedir más información acerca de los límites de ingresos, compras y otros requisitos del programa en ESPAÑOL, HAGA CLIC AQUÍ.

Frequently Asked Questions

Below are some of the most commonly asked questions. 

For more income and purchase limits information and program requirements, CLICK HERE FOR FLYER.

Para pedir más información acerca de los límites de ingresos, compras y otros requisitos del programa en ESPAÑOL, HAGA CLIC AQUÍ.

You must have a tax liability to take the credit.  If you do not have a tax liability now, you may have one in the future.  In addition, if you owe no taxes, or the credit is greater than your tax liability, you may carry the tax credit forward for up to three years.

Files for borrowers who have received MCCs must be maintained and serviced for the life of the loan.  This includes reporting required by the IRS and the IDA to cancel non-compliant MCCs and reissue new MCCs upon refinancing. Renewal fees pay for the overhead and ongoing administration of these files.

If you have financial hardships which make it difficult to pay your fee, please call our office at 520-462-4MCC (4622) to make special arrangements.  If you do not receive a tax credit in a particular year because you had no tax liability, contact CIC to have your annual fee waived (must provide copy of tax return).

You may remain enrolled in the MCC program if you refinance on your home, but we must issue you a new certificate each time you refinance.

To get a new certificate issued after a refinance, there are two documents that will need to be completed.  One you will fill out, and the second your lender will need to fill out.  You are responsible for getting your lender to complete his/her portion and return it to us.  Both of these documents are linked below!

In addition to these two forms, we will need a copy of your promissory note and either your closing disclosure or settlement statement.  Please also send us your original MCC certificate, if you have it.

Mail all of the above documents to:

Community Investment Corporation
Attn: MCC Program
2033 E. Grant Rd.
Tucson, AZ 85719

Or, you may upload these documents here.

No, you must be a primary resident.  If you sell your home, rent your home, or if it becomes your secondary residence, you must notify us and we will cancel your certificate.

Let us know your questions about the program. Our team will follow up with you.

Schedule an appointment with us.

We’re here to help you with step-by-step guidance through the application process – we will help you to determine if you meet the qualifications for the program, and if you do, we will help you apply.

To contact our team directly, email us at mcc@cictucson.org or call 520-462-4MCC (4622). Se Habla Español