Mortgage Credit Certificate


Also found in: Acronyms.

Mortgage Credit Certificate

A security issued by a state or local government allowing holders to claim a tax credit on a portion of the interest they pay on their mortgages. In general, one may not purchase a mortgage credit certificate if one has owned a home in the previous three years; it is intended to help first-time home buyers afford to purchase a house.
References in periodicals archive ?
Debt Limit Allocation Committee for a Mortgage Credit Certificate allocation, with the most
Of great interest to both real estate professionals and consumers are the provisions concerning the permanent extensions of mortgage revenue bonds and mortgage credit certificates; passive loss tax reform; and the removal of disincentives to workouts of troubled commercial real estate loans.
Our nation has five primary federal tax incentives for homeownership: the mortgage interest deduction (MID), the real estate tax deduction, the capital gains tax exclusion, mortgage revenue bonds (MRBs) and mortgage credit certificates (MCCs).

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