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 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:

DeAnne McCann
Economic Development Executive Director
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Phone: 719-520-6481
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