Existing Mortgage Credit Certificate Holders
Community Investment Corporation’s Mortgage Credit Certificate (MCC) program allows first time home buyers 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. MCC’s can save homeowners $50,000+ over the life of their mortgage.
- Annual Administrative Fee: $100
- Due the year following home purchase; pro-rated for first year based on purchase date. You can make a payment on CIC’s website.
- File Form 8396 with your taxes annually. Download last year’s form here.
Frequently asked questions
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. Annual 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.
For more information
We’re here to help you! We have a caring, knowledgeable staff with nearly 25 years of experience working with MCCs who are available to address all of your questions and concerns.
To contact our team directly, email us at email@example.com or call 520-462-4MCC (4622). Se Habla Español