Great news! Join us in assisting an estimated 900 Iowans achieve affordable homeownership!
The Iowa Finance Authority is excited to announce that funding for the new and improved
2018 Mortgage Credit Certificate (MCC) Program
is now available!
The 2018 MCC Program provides an annual credit taken against federal tax liability for eligible borrowers. The credit for 2018 is set at 50 percent of the annual mortgage interest paid up to $2,000 maximum each year. The credit is available for the life of the loan up to 30 years.
There are many new enhancements effective with the 2018 MCC program that will provide financial benefits to borrowers when the MCC is paired with an IFA Homes for Iowans loan.
- Recapture tax reimbursement available
- Borrower application fee waived
- No additional reservation required
- No duplication of documents to upload