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IHDA Mortgage Credit Certificate (MCC)

Administered by: Illinois Housing Development Authority · State · Tax Credit

Funding status: Active

How much assistance

Federal tax credit: 25% of annual mortgage interest (capped at ,000/year) (Tax Credit)

Non-refundable federal income tax credit. Available annually for the life of the loan as long as you remain in the home.

Income limits: IHDA income limits apply; vary by household size and county.
First-time buyer required: Yes — Has not owned a primary residence in the past 3 years (waived in federal Targeted Areas).
Credit score minimum: 640
Geographic restrictions: Must purchase within Illinois.
Homebuyer education required: Yes

Step 1: Apply through an IHDA-participating MCC lender at the time of mortgage application. MCC must be issued before closing.

Cannot be combined with IHDA DPA products. Can be used with non-IHDA first mortgages from approved MCC lenders.