TaxSmart Mortgage Credit Certificate Program Begins

Alberta Daniels    (312) 744-0857

The City of Chicago Series 2010 TaxSmart Mortgage Credit Certificate Program (TaxSmart MCC Program) began on July 1, 2010. Lenders can submit an application to participate in the TaxSmart MCC Program by completing and submitting the application package.  The application can be downloaded on our lenders only page. 

TaxSmart is a Mortgage Credit Certificate (MCC) program that provides a federal income tax credit to qualified homebuyers. A tax credit is a direct reduction of taxes due. Under the program, a home buyer would receive a MCC to reduce income taxes by an amount equal to 20 percent of the interest paid on a mortgage. The tax credit may be claimed each year the home buyer continues to live in a home financed under this program.

Federal law requires that a home buyer satisfy specific guidelines.  For more information about these guidelines visit the the TaxSmart MCC program page.