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tax-credit
Louisiana Mortgage Credit Certificate (MCC)
Louisiana Housing Corporation (LHC)
Max Funding
$2,000
Available In
LA
Program Overview
The MCC program provides federal tax credit up to 50% of mortgage interest paid (maximum $2,000/year). Lifetime benefit available for life of loan that increases buying power by reducing federal tax liability. Note: Cannot combine with standard DPA - must choose one or the other.
Eligibility Requirements
• Must have LHC mortgage\n• Federal tax liability required\n• Cannot combine with standard DPA (choose one or the other)
Additional Requirements
• LHC mortgage loan\n• File annual federal tax return\n• Use IRS Form 8396
How to Apply
1. Discuss MCC option with LHC lender during application\n2. Choose between MCC or DPA (cannot have both)\n3. Apply for MCC with mortgage\n4. Receive MCC certificate at closing\n5. Claim tax credit annually on federal return using Form 8396