How to claim the mortgage credit certificate. The MCC tax credit can be taken at the time borrowers file their tax returns. To claim it, you’ll want to use IRS Form 8396 to document the MCC’s ...

Mortgage credit certificates allow eligible homebuyers to receive a tax credit for a portion of their mortgage interest. You can get a maximum credit of $2,000.

Let’s say you owe $10,000 in mortgage interest for 2021 and your state HFA issues you a 20% mortgage credit certificate. You will get a credit for 20% of $10,000, or $2,000, on your 2021 tax return.

An MCC is a certificate that allows you to claim a federal tax credit on up to 20% of the annual interest paid on your mortgage loan. This credit is capped at $2,000 in most states.