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Get Matched Free →Iowa Mortgage Credit Certificate (MCC)
Funding status: Active
How much assistance
Up to $2,000 federal tax credit per year (50% of annual mortgage interest paid)
Credit is available annually as long as the home remains the owner's primary residence.
Eligibility
- Income limits: Varies by IFA loan program. Household income limits apply.
- First-time buyer required: Yes — Generally limited to first-time buyers; targeted areas may be exempt.
- Geographic restrictions: Home must be in Iowa.
- Homebuyer education required: No
How to Apply for Iowa Mortgage Credit Certificate (MCC)
Apply through an IFA participating lender at the time you apply for your first mortgage. The MCC is issued at closing and allows the borrower to claim the credit on their federal tax return each year.
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