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Mortgage Credit Certificate Program (MCC)

Published on: 12/5/2014 2:33 PM

The County is not currently accepting MCC Applications.


Processing Time


The Office of Affordable Housing tries to process MCC Applications between 5 and 7 business days. The MCC Commitment Letter is emailed to the Loan Officer or Broker submitting the application.

Program Description

The Mortgage Credit Certificate Program (MCC), authorized by Congress in 1984, provides financial assistance to first-time homebuyer's. The Santa Clara County MCC tax credit reduces the federal income taxes of qualified Borrowers purchasing qualified homes; thus having the effect of a mortgage subsidy. The current tax credit rate is up to 15% of the interest paid to the Lender on the first loan.

The MCC will reduce the amount of federal income taxes otherwise due to the federal government from the Borrower; however, the mortgage tax credit cannot be claimed as a refund. MCC Borrowers may consider adjusting their federal income tax withholdings so as to benefit on a monthly basis from the MCC. For more information on how to claim the tax credit refer to IRS Publication 530.


2014 MCC Program Participating Jurisdictions

Campbell, Cupertino, Gilroy, Los Gatos, Milpitas, Morgan Hill, Mountain View, Palo Alto, San Jose, Santa Clara, Sunnyvale, and the Unincorporated areas of the County.
2014 MCC Maximum Income Limits
1 or 2 person household:  $105,000
3+ person household:       $120,750
2014 MCC Maximum Purchase Price Limits 

Existing (Resale) Property:     $570,000

New Construction Property:   $630,000

Target Area Census Tracts
Homebuyers of properties located in a target area census tract are not required to be first-time homebuyers.  The income and Purchase Price maximum are higher that for a home not located in a target area census tract.  you can search by property address on the target area census tract map.  The areas in purple are qualified target area census tracts. 


Target Area Census Tracts can be found in the MCC Program Manual on the Forms and Applications Page.


Target Area Maximum Limits

Income (1-2 persons):  $126,000
Income (3+ persons):
New Construction Sales Price:
Existing Units Maximum Sales Price:    $802,725


 Participating MCC/RMCC Lender List September 2014.pdf

The MCC Application, Brochure, Guidelines, Lender Participation Agreements, and other relevant information is available by clicking on Program Forms.