Below are the basic requirements of an MCC program:

  • Purchase a home within the Eligible Loan Area.
  • Be a first-time homebuyer or have not owned a home, as a principal residence, during the last three years.
  • Even if you are not a first-time buyer, you may be able to use the MCC program if you are buying in an area designated as economically distressed or are a Qualified Veteran.
  • Annual household income and sales price do not exceed the maximum allowed income and purchase limits.
    • For Texas Local Housing Finance Corporations, click here.
    • For Tulsa County Home Finance Authority, click here.
  • Reasonable credit risk.
  • Obtaining a first mortgage on the residence. (No refinancing is allowed)
  • Buying the home as your principal residence.
  • Do not intend to use the residence in a trade or business.
  • Most types of homes qualify. New and existing single family homes, duplexes, town homes, condominiums and manufactured homes with certain restrictions are eligible properties.
  • All mortgage loan types are eligible. The MCC program does not place restrictions on the mortgage financing with regard to type, term or rate. Except for loans tied to a tax-exempt bond program.
  • Must have a tax liability in any given year during the term of your mortgage loan to benefit from the annual credit. Individual tax liability varies and could change year to year.

An MCC may make the difference between dreaming about your first home, and actually owning it. A participating lender sets the terms of the mortgage which includes the interest rate, down payment, underwriting criteria, discount points, closing costs, etc. MCCs are offered subject to availability of funds.

For participating lenders in your purchasing area, please email HIlltopSecurities at or call 214-953-4176.