Must be a first-time homebuyer. Must meet income and price limits. The Mortgage Credit Certificate is not a mortgage; however, it may be used in conjunction with a first mortgage from a participating lender (except a mortgage revenue bond loan.) Borrowers must meet normal mortgage underwriting requirements, which demonstrate credit worthiness, and meet the program’s income and home purchase price requirements. The benefit cannot exceed the amount of federal taxes paid each year after other credits and deductions have been applied. May be subject to recapture tax if the residence is sold within 9 years of purchase.