Yes, your new loan will be just like your current loan deductions each year. The Bank or Lender will send you a 1098 Tax Form each year to report on your tax return. Since you have purchased the home in 2016, you were able to take the mortgage deductions for that year, and also you can do the same for 2017. For your new loan in 2018, you still follow the same process, deductions from the new loan will be deducted in 2018 tax year, even though you don't have private mortgage insurance. Hope this helps?
