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New Sales Price Limits for MCCs Effective May 1

April 30, 2018

AHFA has revised the sales prices limits for borrowers using a Mortgage Credit Certificate. The maximum home purchase price for a loan with a MCC is $271,165 (borrowers in a target area can buy a home costing as much as $331,423). The revised limits are effective for all MCCs originated on or after May 1.

A Mortgage Credit Certificate reduces the amount of federal income tax homebuyers must pay, which in turn frees up income to qualify for a mortgage. Borrowers can claim a federal tax credit worth 20 to 50 percent of mortgage interest paid each year, capped at $2,000 annually. MCCs can be combined with AHFA's Step Up financing to maximize affordability.

AHFA's sales price limits for the MCC program are based on FHA's program loan limits.