Home Success Mortgage Credit Certificate Program

For loans on homes within Phoenix city limits

A Home Success Mortgage Credit Certificate (MCC) allows you, if eligible, to take a federal income tax credit of 25% of the yearly interest you pay on your home mortgage (up to $2000 per year), even if you refinance your home. The program covers FHA, VA, USDA-RD, and Fannie Mae conventional loans, and may even be used in combination with the Home in Five Advantage program.

Home Success Mortgage Credit Certificate PROGRAM DETAILS

A MCC helps low- and moderate-income individuals better afford home ownership and reduce the amount of federal income taxes owed. The tax benefit cannot, however, be greater than the amount of federal taxes owed for the year after other credits and deductions are factored in.

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INCOME LIMITS FOR ELIGIBLE BORROWER

NOTE: Census-targeted areas apply. Give us a call for more details on these areas.

  Non-Targeted Area Targeted Area
Families of 1 or 2 persons: $64,000 $76,800
Families of 3 or more persons: $73,600 $89,600

QUALIFYING PROPERTIES

The home must be located within the city limits of Phoenix, Arizona. To determine a property’s eligibility, search the street address here. It must also be a one- to four-family residence, which includes detached homes, one unit in a duplex, a townhouse, or a condominium.

PURCHASE PRICE LIMIT

NOTE: Census-targeted areas apply. Give us a call for more details on these areas.

The sales price of the home must be at or below the Total Program Acquisition Limit, which is the total amount paid in cash or in kind to the seller, by the buyer. This total does not include financing costs.

Non-Targeted Area Targeted Area
$258,690 $316,177

DOWN PAYMENT ASSISTANCE

The MCC program does not offer down payment assistance. However, it can be used in conjunction with the Home in Five Program, which does offer down payment assistance.

OTHER PROGRAMS