Mortgage Credit Certificate
The Mortgage Credit Certificate (MCC) Program is no longer accepting new applications. However, reissuance applications for existing MCC holders are still being processed through participating lenders. MCC holders should verify lender participation directly when exploring refinancing options.
Review our MCC Participating Lenders List and inquire with participating lenders when refinancing your mortgage loan.
Frequently Asked Questions
Who do I contact if I have lost my original Mortgage Credit Certificate?
Please mail a written request for a duplicate Certificate to: HHFDC, MCC Dept., 677 Queen Street, Suite 300, Honolulu, HI 96813. Include a $25 cashier’s check or money order (no personal checks), your name, address, mailing address, and Certificate number if you have it.
I am refinancing my property which I have an MCC for, can I keep my MCC?
The lender you are refinancing with will need to be an MCC Participating Lender and you will need to notify them that you have an MCC. They will collect an MCC Application for Reissuance and any required documents from you.
My mortgage loan is closing, when will I receive my reissued certificate?
Your lender will need to provide us documentation from your loan closing within 30 days. If 30 days has lapsed from the loan closing, extension fees will be assessed. Once all required documents are received from your lender, a reissued MCC with be mailed to you.
I have sold my house, does this have a tax effect and what do I do with my certificate?
Yes, there may be a recapture tax that will have to be calculated by your tax preparer. You should have received the recapture tax table with your loan closing documents from your mortgage lender. If you do not have this, please email [email protected] and we can send you the document to give to your tax advisor.
Additionally, you need to return your Mortgage Credit Certificate by mail to: HHFDC, MCC Dept., 677 Queen Street, Suite 300, Honolulu, HI 96813.
You can no longer take the credit and doing so may result in additional tax consequences by the Internal Revenue Service (IRS).
I refinanced last year but did not receive a reissued certificate, what do I do?
You need to contact your lender who needs to be an MCC Participating Lender. They will need to prepare and obtain your signature on MCC Reissuance forms and will need to submit copies of the closing documents in order for a MCC to be reissued.
Additionally, there is a $300 fee for the reissuance. If you refinanced with a non-participating lender, unfortunately, we cannot reissue the certificate
I was issued a Mortgage Credit Certificate. Is it affected by the sale of my mortgage to another lender?
Your mortgage lender may sell your loan to another lender during the term of the loan and, at times, may only sell the servicing of your loan to another lender or business. This does not have an effect on your MCC for tax purposes although your certificate reflects the original lender’s name and not the new lender. HHFDC will not update the MCC.
Please retain your original mortgage note and any communication from your lender related to a sale of the loan or servicing and present it to your tax preparer if they have any questions about the lender listed on your certificate.
When will the information on my Mortgage Credit Certificate be updated?
Your MCC will only change when it is reissued due to refinancing of the first mortgage. You must notify your mortgage lender when applying for a refinance that you have an existing MCC and that you need to submit a Reissuance Request to HHFDC.
Remember, you can only refinance with a MCC participating lender. Always refer to our website to see if your lender is an MCC participant, as the list can change annually.
For any additional inquiries, please email [email protected].