Mortgage Interest Loan Maximum for Married Filing Seperately

We're taking out a $400,000 mortgage loan this year, so I understand that we can deduct interest on up to $750,000 if filing jointly but only $375,000 if filing separately.  But can deduct interest up to $375,000 for each of us.  For example, if filing separately, can we each deduct interest on $200,000 for the $400,000 loan?