I took out a mortgage in July 2016 to buy my primary home. In 2024 I added to the balance of of my home acquisition debt to make substantial improvements to my primary home. Is the additional debt subject to the $1M/$500K home acquisition debt limit since it is the same primary home purchased in 2016, or is it considered a new loan and subject to the $750K/$375K home acquisition debt limit for debt incurred after 12/15/2017?
In the step by step mode in TT, it asks "Is this loan a HELOC or a refinance of a previous loan?". One of the possible responses is "No, this loan is neither of these". What qualifies as "neither of these"?
Thanks
