Mortgage Certificate can be issue through your lender prior to closing your home. You should make a request at the beginning of the process, as the lender must have the certificate approved before proceeding.
Once a certificate is approved, it is valid for 90 days, so expiration must occur within that time frame.
Here are some general requirements for getting a mortgage loan:
First-time home buyer status: To become a first-time home buyer you need to meet the requirements of your state. However, even if you have previously owned a house, you may still be eligible for this provision. For example, in Virginia, you qualify as a first-time homebuyer if you've owned a home for at least three years.
Household Income: Your income limits vary by state and county. In general, states base their programs on average income amounts. For example, in Florida, the income limit for a one-to-two-person family is $62,520 in De Soto County, but $78,700 in Miami-Dade County.
Purchase Price: Similarly, purchase price limits are set by the state and county. In Florida, De Soto and Miami-Dade counties have different purchase price ranges for non-target areas, $270,752 and $316,917, respectively.
Location: Buying a home in certain specified areas may qualify you for an MCC, even if you are not a first-time buyer. Additionally, income and purchase limits may differ for those wishing to buy in the target areas.