Skip navigation links
Government
Residents
Business
Visitors
Employees
Resources
Careers
Mortgage Credit Certificate Program

Single Family Revenue Bond

Program Description
The Housing Finance Authority of Broward County has launched a Mortgage Credit Certificate (MCC) program to help reduce home loan financing costs for qualified homeowners in Broward County.

The MCC program entitles qualified applicants to a federal income tax credit in an amount of up to $2,000 annually. This enables qualified owners or buyers, who owe federal income taxes, to benefit from a dollar-for-dollar reduction of their tax bills. Additionally, the homeowner will continue to receive the tax credit each year they continue to live in the home financed under the MCC program.

The MCC program is not a mortgage; however, it may be used in conjunction with a first mortgage from a participating lender (except a mortgage revenue bond loan.) Borrowers must meet standard mortgage underwriting requirements, which demonstrate credit worthiness, and meet the MCC program's income and home purchase price requirements.

New Loan Requirements
An MCC cannot be issued in conjunction with the acquisition or replacement of an existing loan or mortgage; however, an MCC can be used in conjunction with the replacement of construction period loans or bridge loans of a temporary nature. Construction period or bridge loans must be for no longer than 24 months.

Questions
Read the Frequently Asked Questions for more program details.

Contact Information
Housing Finance Authority of Broward County, 954-357-4900 

 

<Back
 

 


Switch to Full Site   | Terms of use
Official Mobile Website of Broward County, Florida
The version of this site is best viewed on a mobile device.