Single Family Mortgage Credit Certificate Program Summary of Program Parameters

How it works

A MCC is a tax credit that reduces your federal tax liability. You receive a tax credit for 40% (up to $2,000) of your annual mortgage interest payment each year for as long as you own and remain in the house purchased.

Program Area City of Tucson, Arizona
Eligible Properties
New or previously occupied single-family homes including detached homes, manufactured housing, condominiums, duplexes, or townhouses within the Program Area.
Eligible Lenders
Any lending institution located within the state is eligible to provide loans under this Program.
Eligible Loans
Fixed-rate or adjustable rate FHA, VA, and Conventional loans. MCC’s are not available with non-taxable mortgage revenue bond loans and veteran bond loans. Only original first mortgage financing is eligible. MCC’s cannot be used with 100% seller financing.
Fee Schedule - Applicant City of Tucson
Program Fee: .75% of final loan amount Annual Administration Fee: $100.00 (There are no fees to be paid by the Lender)

Mortgage Credit Certificates are available to first-time homebuyers unless property is in a targeted area (Click to view map), or loan is a qualified home improvement loan. The MCC Administrator will not underwrite the loans. Lenders will process the underlying mortgages using standard procedures, with adjustments to those procedures, as needed, in order to satisfy MCC requirements.

Household Income Limit

Household Income Limit

Size of Household Non-Targeted Area Target Area
1 to 2 persons $59,800 $71,760
3 or more persons $68,770 $83,720
Purchase Price Limits
Purchase Price Limits
Property Type Non-Targeted Area Target Area
1 Unit $255,573 $312,368
2 Units $327,368 $399,895
How to apply

Lenders are to fax the 1003, signed purchase contract (with addendums), and 3 years Federal Tax Returns to Advantage Housing Services at 520-624-1728 (attn: MCC Program Administrator)

The Lender can charge an Applicant only those reasonable fees that would be charged to a client applying for a mortgage without an MCC.

Program Administration

Advantage Housing Services LLC (“AHS”) is Program Administrator. AHS will process applications and issue MCC’s. Questions regarding the Program should be directed to the Program Administrator at:

Advantage Housing Services, LLC
335 N. Wilmot, Suite 420

Tucson, AZ 85711

Phone: 520-882-5591
Fax : 520-624-1728