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Florida Administrative Code (Last Updated: June 27, 2024) |
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67. Florida Housing Finance Corporation |
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D67. Departmental |
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67-54. Mortgage Credit Certificates Program |
1The MCC Eligible Borrowers under MCC program:
8(1) Must possess an ownership interest and occupy the residence as a principal residence within sixty days after loan closing. The Eligible Borrower must notify the MCC Participating Lender and the Corporation if he/she ceases to occupy the property as the primary residence. At that time, the MCC will be revoked and the Eligible Borrower must stop using the MCC Credit;
69(2) Must not have owned a principal residence, including a mobile home (whether or not on a permanent foundation), located within or outside the State of Florida during the three-year period ending on the date the mortgage is executed, unless the residence is being purchased in a MCC Targeted Area;
119(3) Must meet household income limits for the MCC Program. MCC Participating Lenders must calculate income by using the procedures outlined in the Origination Guide.
144Rulemaking 145Authority 146420.507(12) FS. 148Law Implemented 150420.5099 FS. 152History–New 1-3-05.
