With Mortgage Credit Certificates, buyers receive a tax credit that is the equivalent of either 15 or 20 percent (depending on income and property census tract) of the buyer’s mortgage interest federal tax deduction. The tax credit enables buyers to increase their purchasing power by increasing their take-home pay. (Many MCC holders choose to adjust their W-4s to receive the income from the tax credit directly through their paychecks.)

MCC's can be used with conventional, fixed rate or adjustable rate, FHA and VA loans. They are not available with bond-backed loans such as CalHFA, CalVet, and negative amortization.

For buyers purchasing homes in targeted census tracts, there are higher income and purchase price limits, and first-time buyer status requirement may be waived. For further information, please review the program guidelines and MCC lender manual. Buyers apply directly through participating lenders.

Following are instructions for participating in this program and the Down Payment Grant/Closing Cost Assistance program: complete and submit two simple forms (Lender Participation agreement and Statement of Quality Commitment agreements) and mail these forms – along with a copy of a business license and an annual application fee of $400 (check payable to San Diego Housing Commission) to:

Vicki Monce
San Diego Housing Commission
1122 Broadway, Suite 300
San Diego CA 92101

Upon receipt of your package, Housing Commission staff will contact you.