You may qualify for the Mortgage Interest Credit if your state or local Housing Finance Agency issued you a qualified Mortgage Credit Certificate (MCC) and you paid up to $2000 in mortgage interest annually. You are issued this certificate upon purchase of your main home that you pay a mortgage on.
If you received an MCC, you will be using Form 8396 to figure your mortgage interest credit and any credit carryforward.
You can claim both the mortgage interest deduction and credit, but your deduction will be reduced by the credit amount.
