Do you have to renew a mortgage credit certificate (MCC) every year to receive the tax benefit?
Mortgage credit certificates (MCC) are applicable as long as you have your mortgage and live in the home you purchased with the mortgage. After you have received your MCC and your mortgage closes, you do not need to re-apply for the MCC again. If you move out of your home, sell your home and pay off your mortgage or refinance your mortgage then the MCC is terminated and you would need to re-apply for a new MCC. We provide a comprehensive overview of Mortgage Credit Certificates on FREEandCLEAR and we recommend that you contact the housing organization through which you obtained your MCC to address any questions you have.
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