Mortgage |
Mortgage |
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Deduct Your Mortgage Interest & Save
As a homeowner, the mortgage interest you pay on loans up to a million dollars ($500,000 if married filing separately) is deductible, provided you use the money to buy, build or improve your home. Plus, any real estate taxes and points (also called origination fees) are also deductible.
Learn more about home deductions.
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Paying for big expenses can be a challenge. In some cases, your home can be your best resource. Taking out a home equity loan or a home equity line of credit allows you to borrow against the value of your home. Plus, the annual interest on these loans may be fully deductible if you itemize.
Learn more about home equity.
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