Housing & Community Development Department

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Michelle Starratt
Housing Director

Mortgage Credit Certificate Program

Mortgage Credit Certificate Program Graphic.
Hispanic mom, son and daughter in front of home

How an MCC benefits the home buyer

See the difference No MCC MCC
Mortgage Amount $450,000 $450,000
Sample Mortgage Rate 4% 4%
Avg Monthly Interest 1st Year $2,148 $2,148
MCC Rate n/a 20%
Avg Monthly Credit 1st Year n/a $298
"Effective" Monthly Interest 1st Year $2,148 $1,850
Savings 1st Yr of Loan $0 $3,571
Savings for Life of Loan * $0 $63,768
*based on a 30-year fixed loan