Current MCC holders

The Mortgage Credit Certificate (MCC) Program is no longer accepting new applications. However, reissuance applications for existing MCC holders are still being accepted when refinancing and must be processed through an MCC Participating Lender.

Homeowners considering refinancing should confirm lender participation before proceeding.

Please review the MCC Participating Lenders List and contact a participating lender directly when exploring refinancing options.

Current MCC Holders

To qualify for an MCC reissuance, all original program requirements must continue to be met. Reissuance is not automatic and is subject to review and approval.
An existing MCC holder must meet all of the following requirements at the time of refinance:

  1. Principal Residence Requirement

    The property must continue to be occupied by the homeowner as their primary residence.

  2. Business Use Limitation

    No more than 15% of the total area of the residence may be used for business purposes.

    This includes, but is not limited to:

    • Operating a business from home
    • Renting out a room or portion of the residence.
  3. No change in Title
    There must be no change to the property title.

    The addition of any person to the property title may result in revocation of the MCC and can disqualify the homeowner from reissuance. We recommend that your lender contact us to confirm eligibility before proceeding.

  4. The homeowner must be able to qualify for a refinance with or without an MCC.

Failure to meet any of the above requirements may result in denial of the reissuance request and termination of the MCC benefit.

Frequently Asked Questions

I lost my original Mortgage Credit Certificate. Who do I contact?

Please submit a written request via mail or in-person for a duplicate certificate to:

HHFDC
C/O MCC Dept.
677 Queen Street, Suite 300
Honolulu, HI  96813

Include:

  • A $25 cashier’s check or money order (no personal checks)
  • Your name
  • Property Address
  • Mailing Address
  • Certificate number, if available

I am refinancing a property with an MCC. Can I keep my MCC?

Yes, but only if you refinance through an MCC Participating Lender and notify the lender that you have an existing MCC.

The lender will initiate an MCC Application for Reissuance and collect all required documentation from the homeowner.

My refinance just closed. When will I receive my reissued MCC?

Your lender must submit the required closing documentation to HHFDC within 30 days post-closing. If documentation is received after 30 days post-closing, extension fees will apply.

Once all required documents are received and approved, the reissued MCC will be mailed to you.

I sold my home. Does this affect my taxes, and what do I do with my MCC?

Yes. The sale of the home may trigger a federal recapture tax, which must be calculated by your tax preparer.

You should have received a recapture tax table with your original loan closing documents. If you do not have this table, please email [email protected] to request a copy for your tax advisor.

You must also return your original MCC by mail to:

HHFDC, MCC Dept.
677 Queen Street, Suite 300
Honolulu, HI  96813

Once the property is sold, you may no longer claim the MCC credit. Continuing to do so may result in additional tax consequences imposed by the Internal Revenue Service (IRS).

I refinanced last year but never received a reissued certificate. What should I do?

You must contact the lender who handled your refinance. The lender must be an MCC Participating Lender and is responsible for preparing the MCC Reissuance forms, obtaining your signature, and submitting the required closing documents.

There is a $300 reissuance fee.

If you refinanced with a non-participating lender, HHFDC cannot reissue the MCC. The certificate will be automatically revoked and must be returned to HHFDC (address listed above)

My mortgage was sold to another lender. Does this affect my MCC?

No. A lender may sell your loan or loan servicing during the life of the mortgage. This does not affect your MCC for tax purposes.

Your MCC will continue to reflect the original lender’s name. HHFDC does not update MCCs due to the loan or servicing transfers.

Please retain your original mortgage note and any correspondence related to the sale or servicing transfer and provide them to your tax
preparer if needed.

When is my MCC information updated?

Your MCC is only updated when it is reissued due to refinancing of the first mortgage.

You must inform your lender when applying for a refinance that you have an existing MCC and that a reissuance request must be submitted to HHFDC.

You may only refinance with an MCC Participating Lender. If your lender is not currently participating, they must update their participation status with HHFDC before submitting a reissuance application.

For any additional inquiries, please email [email protected].