Mortgage Credit Certificate (MCC)

Endless opportunities to meet all your home loan needs.

Our Mortgage Credit Certificates provide low to moderate income individuals and families the financial stability to afford better housing opportunities. By reducing the amount of federal income tax you pay, you will have more available income which allows you to qualify for better loan programs. It also allows you to have more expendable income to assist in mortgage payments.

More benefits of Mortgage Credit Certificates:

  • Income tax reduction
  • Annual mortgage interest credit
  • Active for entire duration or mortgage
  • 80% of your annual mortgage qualifies as an itemized tax deduction
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Why choose a Mortgage Credit Certificate (MCC)?

Income tax reduction

The MCC supports low to moderate income families by allowing a reduction on federal income tax requirements. This raises the qualification and approval potential for a home mortgage by increasing your expendable income. It also supports your ability to afford your mortgage payments.

Annual mortgage interest credit

With an MCC, up to 20% of the annual interest you’ve paid could be credited back to you. If your monthly interest payment is $1,000, your yearly interest will accrue to $12,000. With the MCC, you could receive $2,400 (20% of $12,000) back.

80% of your annual mortgage qualifies as an itemized tax deduction

After the 20% interest credit, the rest of the 80% of your annual mortgage interest is tax deductible. In other words, if your annual mortgage interest amounts to $1000 then $200 of that interest gets credited back to you and the remaining $800 qualifies as a tax deductible.

Active for entire duration of mortgage

If you receive a 30 year loan, the MCC benefits will apply for the entire duration of the loan until it is fully paid.

Getting Started

Here are some essential tools and documents to help you begin the process of purchasing a home:

Free Rate Quote

Whether it’s time to buy or refi, we’re here to help you take the next step. Fill out our form and one of our loan specialists will be in contact with you.

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Calculators

Not sure whether or not now is the time to buy or sell a home? Calculate your own potential rates with our variety of mortgage calculators for all your finance needs.

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Ready To Get Your Loan?

Feeling confident and ready to start the home loan process? Apply online here.

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Happy Home Owners

Hear what some of your friends and neighbors have to say about working with Cardinal Hawaii.

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Come home to a place you can call your own.

Get your free rate quote today.

Come home to a place you can call your own.

Get your free rate quote today.

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