Mortgage Credit Certificate (MCC) Program

The El Paso County Mortgage Credit Certificate (MCC) program allows qualifying borrowers to receive an annual federal income tax credit equal to 50% of the annual interest they pay on their mortgage loan ($2,000/year maximum).

Program Size: $26,626,750

Program Period: March 15, 2018, through December 31, 2019, as long as program funds remain.


Homebuyer Eligibility Criteria:

1) First-time Homebuyers: Cannot have owned a home in the past three years (except when purchasing a home located in “Targeted Areas” and for Qualified Veterans). Targeted Areas are census tracts designated by HUD as underserved in mortgage loan origination.

2) Maximum Family Income:

Families of 2 or Fewer: Non-Targeted $82,600 or Targeted $99,120

Families of 3 or More: Non-Targeted $94,990 or Targeted $115,640

3) Maximum Home Cost: Non-Targeted $280,588.50 or Targeted $342,941.50

Eligible Loans:

Terms and interest rate of the mortgage loan are set by the Participating Lender, though must be fixed-rate and not exceed 40 years. Can be used jointly with Single Family “Turnkey” Mortgage Program

Eligible Loan Area:

Mortgage loans under the program may be made to qualifying borrowers throughout El Paso County, including the City of Colorado Springs.

Who can I contact for more information?

Please contact one of the participating lenders listed below for information and details.

Participating Lenders:

Interested Lenders – Should you wish to become an approved lender, please contact Jennifer Payne at Raymond James for more information.

Contact us:

Crystal LaTier
Interim Economic Development Director
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Phone: 719-520-6484
Fax: 719-520-6288

Sara Lobato
Economic Development Senior Analyst
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Phone: 719-520-6480
Fax: 719-520-6288