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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
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).

Full browser ?