"The original $1.1 million ceiling is grandfathered for acquisition and improvement loans in existence before December 15, 2017."
Even if loan is refinanced in 2020, is it still considered as loan in existence before December 15, 2017? I thought refinance is considered a new loan from tax purposes and if you refinance after Dec 15, 2017 mortgage interest limit for upto 750k loan applies. If that is not the case I am glad to know about this.
"You can only deduct 100% of your interest if you take a cash-out refinance, particularly if you use the money for a capital home improvement."
for example: Original loan from August 2017: 900k, refinance loan in 2020: 800k. if I do cash back refinance and make loan 1 million, I can still deduct the full interest on 1 million loan? Assuming 200k cash back money is used for addition to the home.
Also, if I take additional 100k HELOC, so 1million loan and 100k HELOC on top of that, I still can deduct the full interest on both loan and HELOC?
