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Home Mortgage Interest |
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Home Mortgage Interest The interest paid on a loan securing one's primary residence. This excludes interest paid on investment properties and most vacation homes. In the United States, one may reduce one's taxable income by the amount one pays in interest on all eligible mortgages. There are some limits to the mortgage interest deduction. For example, one may only deduct interest on the first $1,000,000 worth of mortgages, aggregated with other home debt. However, most homeowners can deduct all of their mortgage interest. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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