OHFA Mortgage Credit Certificate (MCC) | Ohio Housing

OHFA Mortgage Credit Certificate (MCC) is administered by the Ohio Housing Finance Agency (OHFA) or a

partnering local housing department to expand access to affordable homeownership and neighborhood

revitalization statewide. Qualified borrowers may receive $2,000 per year tax credit together with a

fixed‑rate first mortgage, free homebuyer education, and post‑purchase counseling. Programs can be layered

with FHA, VA, USDA, and conventional products as well as OHFA’s Mortgage Credit Certificate, which offers up

to $2,000 annual federal tax savings. Income and purchase‑price limits are based on HUD guidelines and

vary by county. Properties must serve as the borrower’s primary residence and meet state habitability

standards. Some assistance loans are forgiven over a defined term, reducing repayment burden. Funds are

reserved through an OHFA‑approved lender network and disbursed at closing to reduce out‑of‑pocket costs.

• Household income must not exceed OHFA’s county limits.

• Purchase price (or after‑rehab value) must be within OHFA or city caps.

• Minimum 640 credit score; DTI generally ≤ 45 percent.

• Completion of OHFA‑approved homebuyer education prior to closing.

• Property must be a 1‑4 unit primary residence, condo, or manufactured home on permanent foundation.

• $2,000 per year tax credit applied to down payment, closing costs, rehab, or mortgage relief.

• Thirty‑year fixed‑rate mortgage often below market rate.

• Option to combine with OHFA MCC for $2,000 annual tax credit.

• Free foreclosure‑prevention counseling statewide.

1. Review county income and purchase‑price charts on ohiohome.org.

2. Obtain pre‑approval from an OHFA‑participating lender and reserve program funds.

3. Complete HUD‑approved homebuyer education (online or classroom).

4. Sign a purchase agreement; lender finalizes underwriting and locks OHFA rate.

5. Attend closing; OHFA funds are wired to cover eligible costs. Occupy the home within 60 days.