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MCC Tax Credit Change

As previously announced in February 2020, Virginia Housing has changed the credit to 10% effective with MCC Commitments on or after April 15th, 2020.

The updated MCC Borrower Application and Fact Sheet reflecting the 10% credit is attached and available on It is required for MCC Commitment requests submitted on or after April 15th, 2020.


Is an MCC that is already issued subject to the 10% credit change?

No, for MCCs already issued and MCC Commitments issued before April 15th, 2020, the MCC credit will remain at 20% for the life of the mortgage as long as the homebuyer lives in the home.

What forms will reflect the credit rate change?

The tax credit rate on the MCC Commitment and the Mortgage Credit Certificate itself.



More questions? Please reference page 12 of VHDA’s FAQs.

Still have questions? Contact your Business Development Officer or




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