MCC to be used in Mortgage Revenue Bond loan

Guest 0.10 Dollars($)

Can Mortgage Credit Certificate (MCC) be used in Mortgage Revenue Bond loan?

Samantha · Posted: Wed Nov 09, 2005 4:52 pm Post subject:

Hi Mark,

I am afraid you cannot. MCC can be used in case all other loans but not not in Mortgage Revenue Bond loan.

To avail some benefit you can combine it with other sources of down payment and closing costs.

Hope I could answer your query.

God bless you.

For MortgageFit,
Samantha

Guest 0.10 Dollars($)

Is it similar to EIC?

Samantha · Posted: Wed Nov 09, 2005 5:14 pm Post subject:

Hi Mark,

Mortgage Credit Certificate (MCC) may be considered similar to EIC program in the sense that they both can benefit the tax payer during the year.

But, MCC is not refundable like EIC and any unused portion may be carried forward up to three years.

For additional information, you may refer Mortgage Credit Certificate.

Feel free to post if you have any more doubts.

Thanks,
Samantha

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