It can be deductible if it the mortgage was done with 90 days of the purchase date.
From IRS pub 936 - Mortgage treated as used to buy, build, or improve home.
- A
mortgage secured by a qualified home may be treated as home acquisition
debt, even if you do not actually use the proceeds to buy, build, or
substantially improve the home. This applies in the following
situations.
You
buy your home within 90 days before or after the date you take out the
mortgage. The home acquisition debt is limited to the home's cost, plus
the cost of any substantial improvements.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
