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C
cubs 12
February 8, 2025
Question

Credit rate

  • February 8, 2025
  • 1 reply
  • 0 views

I’m doing my taxes and under the Mortgage credit certificate I do not understand what it means by credit rate percentage?

    1 reply

    M
    mglauner
    February 8, 2025

    If you received a Mortgage Credit Certificate, that info would be on it.

     

    The credit rate is the percentage used to calculate the mortgage interest credit, and is between 10% and 50% of the qualified mortgage interest you pay. The mortgage credit certificate (MCC) shows the credit rate that applies to you. The government agency who issues your MCC determines this credit rate.

     

     

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