Hawaii and California MCC Grant

The MCC Grant (Mortgage Credit Certificate), offered in both Hawaii and California, is a tool available to First-Time Home Buyers that can make the difference in qualifying or not qualifying for a loan.

You may qualify as a First-Time Home buyer if you have not owned a property in the most recent three years.

What is MCC?
The Mortgage Credit Certificate (MCC) reduces the amount of federal income tax you pay, thus giving you more available income to qualify for a mortgage loan and assisting you with house payments, making it ideal for First-Time Home Buyers.

How MCC can benefit you
20% of your annual mortgage interest will be a direct federal tax credit*, resulting in a dollar-for-dollar reduction of your annual federal income tax liability. The remaining 80% of your annual mortgage interest will continue to qualify as an itemized tax deduction.

*20% of your annual mortgage interest will be considered as income for qualifying!

Some restrictions apply

*Updated September 10, 2018

Effective September 10, 2018 until further notice, the Hawaii Housing Finance and Development Corporation has announced that the Mortgage Credit Certificate program is only available for home purchases located in Targeted Areas.

The current MCC program Target Areas are limited to:

Ala Moana – Kakaako, Oahu
Downtown, Oahu
Hickam Air Force Base, Oahu
Kakaako – Downtown, Oahu
Kalihi – Palama, Oahu
Kalihi Valley, Oahu
Makaha – Waianae, Oahu
Schofield Barracks, Oahu
Waikiki, Oahu

If you are looking to purchase a home with a MCC grant we can help you confirm if you are purchasing in an eligible area, speak with one of our loan experts today by calling 808-891-0415.

See table below for the maximum income and purchase price allowed for your county.

Income limits by County

Purchase price limits by County