MCC How to Qualify

Mortgage Credit Certificate (MCC) Program

How to Qualify

Qualifying Restrictions

  • Your household income and the purchase price must not exceed the limits shown below.
  • You must not have owned a principal residence in the last three years unless you are a Qualified Veteran.
  • You must occupy the home as your principal residence.
  • You must apply for the MCC Program through a Participating Lender.
  • You must purchase a home within the Eligibility Area.

MCC Program Maximum Income Limitations (2015)

County   1-2 Person Family   3+ Person Family
Non-Targeted Areas
Bastrop, Caldwell, Hays & Williamson $76,800 $88,320
Blanco $67,100 $77,165
Burnet $62,900 $72,335
Fayette $62,900 $72,335
Lee $65,600 $75,440
Llano $62,900 $72,335
Targeted Areas
Hays $92,160 $107,520

MCC Program Maximum Purchase Price (New & Existing) (2015)

Bastrop, Caldwell, Hays & Williamson Counties            $ 316,098

Blanco, Burnet, Fayette, Lee & Llano                           $ 258,690

Hays Targeted Area                                                      $ 386,342

Below are simple steps to help you navigate through the MCC Program

Step 1: Read carefully the MCC Description.

Step 2: Find a Participating Lender – To find a participating lender call Lori Wood at 214.953.4231  or Sharon Gonzalez at  214.953.4122  or visit www.htshousing.com . Your lender will be able to help you through the steps listed below.

Step 3: After finding a property and having the seller accept your offer, open escrow. You may only apply for an MCC program when the escrow account is open; NOT after it is closed.

Step 4: Read and sign the MCC Application. Your lender will provide you with the application.

Step 5: Take the required Homebuyer Education.

Step 6: If your MCC Application is approved, the Program Administrator will issue your Lender a MCC Commitment and a MCC Closing Affidavit.

Step 7: Sign the MCC Closing Affidavit with the other closing documents at the end of escrow.

Step 8: That’s it! Look for your MCC document in the mail within 30 days after closing.

 

Go to How to Qualify      Go to MCC Program Description