Yes. You can deduct interest you pay on a loan secured by your main home (where you ordinarily live most of the time) and a second home. A second home can include any other residence you own and treat as a second home, and can be a mobile home, house trailer, recreational vehicle, or houseboat that has sleeping, cooking and toilet facilities.

This is an itemized deduction similar to a home mortgage. If your total itemized deductions (Property Tax, Mortgage Interest, Charitable Donations and State Income Tax) don't add up to more than the standard deduction for your filing status. More info about your situation would be needed to know for sure.

Here are the standard deduction amounts for 2016. (Your itemized deductions need to exceed this number in order for them to help you and trigger a Schedule A on your return.)

Filing Status Standard Deduction

Single $6,300   

Married Filing Jointly $12,600

Married Filing Separately $6,300

Head of Household $9,300

Qualifying Widow(er) $12,600