Indiana Mortgage Credit Certificate (MCC) Checklist

A step-by-step checklist for consumers applying for the Indiana Mortgage Credit Certificate (MCC) Program in 2025.

Confirm Your Eligibility

Ensure your household income is within the program’s limits, which vary by county and family size.
Verify that your credit score meets the program’s minimum requirement, typically 640 or higher. Additional guidance may be provided by your assigned Loan Officer.
Confirm that the property you plan to purchase will serve as your primary residence and is within the program’s price limits.
Check if you meet additional eligibility requirements, such as being a first-time homebuyer or purchasing in a targeted area.

Collect proof of income, such as recent pay stubs, W-2 forms, or other earnings verification documents.
Gather your tax returns for the past three years, including all schedules and attachments.
Obtain recent bank statements for the last two to three months for all financial accounts.
Prepare property details, including the address, purchase agreement, and sale price.
Compile any additional documents requested by your Loan Officer, such as verification of assets, liabilities, or debts.

Your assigned Loan Officer will guide you through the Indiana Mortgage Credit Certificate application process.
Schedule a meeting or phone call with your Loan Officer to confirm eligibility, review program details, and discuss the steps required to complete your application.
Ask questions about program benefits, documentation requirements, or timelines for approval.
Follow your Loan Officer’s instructions to gather and submit all necessary materials accurately and promptly.

Collaborate with your Loan Officer to accurately complete your application for the Mortgage Credit Certificate Program.
Submit all required documents to verify your eligibility for the program.
Review the completed application with your Loan Officer to ensure it is complete and free of errors before submission.
If necessary, attend a homebuyer education course to fulfill program requirements.

Sign all required documents provided by your Loan Officer to secure your participation in the program.
Prepare for any additional costs not included in the program, such as closing fees or prepaid items.
Receive confirmation of your enrollment and detailed instructions on how to claim the mortgage credit on your tax returns.

Ensure that the purchased property remains your primary residence to continue benefiting from the Mortgage Credit Certificate.
Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as these actions could affect your program benefits.
Stay informed about program requirements or updates to maintain compliance and retain your tax credit benefits.