Missouri Mortgage Credit Certificate (MCC) Program Checklist

A comprehensive guide for applicants of the Missouri Mortgage Credit Certificate Program in 2025.

Assess Your Eligibility

Confirm that you are a first-time homebuyer, defined as someone who has not owned a principal residence in the past three years. Exceptions apply if you are a qualified veteran or purchasing in a federally designated targeted area.
Ensure your household income is within the program's limits, which vary based on household size and property location. For example, income limits differ between counties and are adjusted for the number of people in your household.
Verify that the property's purchase price does not exceed the program's maximum acquisition cost for your area. For instance, the purchase price limit for a single-unit home in a non-targeted area is $248,098, while in a targeted area, it is $303,231.
Plan to occupy the property as your primary residence within 60 days of loan closing and ensure you do not own other residential property at that time.

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

A Loan Officer will be assigned to guide you through the Missouri Mortgage Credit Certificate Program application process.
Schedule an initial meeting or call with your Loan Officer to discuss eligibility requirements and outline the application steps.
Clarify any questions regarding the program, required documentation, or the application process.
Follow your Loan Officer's instructions to efficiently gather and submit all necessary documentation.

Work closely with your Loan Officer to fill out your application for the Missouri Mortgage Credit Certificate Program.
Provide all required documents to confirm your eligibility for the MCC.
Review your application with your Loan Officer to ensure it is accurate and complete before submission.
Attend a homebuyer education class prior to closing, as mandated by the program.

Sign all necessary documents provided by your Loan Officer to complete your participation in the program.
Prepare for any expenses not covered by the program, such as additional closing fees or prepaid items.
Receive confirmation of your enrollment and details on how the MCC will be applied to your home purchase.

Ensure the purchased property remains your primary residence for the duration specified by the program.
Inform your Loan Officer promptly if you plan to sell, refinance, or make changes to your mortgage, as this could impact your program benefits.
Stay updated on any changes to program requirements to maintain compliance and retain your MCC benefits.