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  • Santa Clara County Reissued Mortgage Credit Certificate Program (rmcc) - Sccgov

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Santa Clara County Reissued Mortgage Credit Certificate Program (RMCC) RMCC Exhibit A Attach Amortization Table on Original Loan Use the 1) Original Interest Rate, 2) Original Loan Amount, and 3).

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The MCC is issued through your lender prior to closing on your home. You should request one early in the process, since the lender must have the certificate approved before moving forward. Once the certificate is approved, it's valid for 90 days, so the closing should take place within that time frame.

Form 8396 Mortgage Interest Credit is separate from the Form 1098 you receive from your bank or financial institution for mortgage interest paid. Form 8396 is for holders of Qualified Mortgage Credit Certificates issued by state or local governmental units or agencies.

The MCC tax credit remains in place for the life of the mortgage, so long as the residence remains the borrower's principal residence.

Where is the mortgage credit certificate number? Your mortgage credit certificate number is the number issued by the agency that qualified you for the program.

There are a few IRS forms and other information you'll need handy when it comes time to file your tax returns with a mortgage credit certificate. IRS form 1098. At the end of the year, you'll get a Form 1098 from your loan servicer. You'll need the figure in Box 1 of the form to fill out the IRS MCC form.

What happens when I refinance my home? In order for you to continue qualifying for the MCC Income Tax Reduction, you must apply for a Reissued Mortgage Certificate each time you refinance. You must use a MCC Participating Lender to refinance your loan.

MCCs are not a loan product, but rather a federal tax credit. MCCs are certificates issued by HFAs that increase the federal tax benefits of owning a home and helps low- and moderate-income, first-time homebuyers offset a portion of the amount they owe in mortgage interest.

What is the Mortgage Credit Certificate (MCC) Program? The MCC program is a homebuyer assistance program designed to help lower‐income families afford homeownership. The program allows homebuyers to claim a dollar‐for‐dollar tax credit for a portion of mortgage interest paid per year, up to $2,000.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232