I too refinanced in 2017; paid off a mortgage loan, paid off an equity loan, consolidated credit card debt, and purchased a used car. Yes, I did use the new loan for a purpose other than our home. All amounts were under $146,000. With much equity in our home (over $500,000), I thought I could use the money for whatever I wanted as long as the debt was being repaid. The new interest deduction is confusing. Does it only apply to refinancing done in 2018?
