Ohio's Mortgage Credit Certificate program allows first-time home buyers to take advantage of a special federal income tax credit.
In Ohio, qualified homebuyers can receive a Mortgage Credit Certificate from Ohio Housing Finance Agency (OHFA), which can be used to reduce their Federal Income Tax tax liability every year for the life of their mortgage loan. Under Ohio's MCC program, a portion of your mortgage interest (20, 25, or 30%) becomes a tax credit that you can deduct from your income tax burden. You may still use the remaining portion (80, 75, or 70%) of your mortgage interest as a tax deduction, as long as you have sufficient itemized tax liability.
To qualify for a Mortgage Credit Certificate (MCC) in Ohio you must meet Ohio Housing Finance Agency (OHFA) income limits, and properties must meet sales price limits. The limits will vary by county. Check income and sales price limits.
To qualify for an Ohio MCC, you must: