topic Mortgage insurance for property in Investors & landlords

Mortgage insurance for property

morganm50 — Tue, 24 Feb 2026 15:00:43 GMT

What a great resource. Thanks.

Question - I have a "first home" already with a mortgage. Bought a piece of property to hopefully build a retirement home in the future and I have a mortgage on it. Received a 1098 from the lender showing the mortgage interest I paid. It also shows the address securing the mortgage. Doing research, it always talks about built homes. This is just a piece of property that will eventually have a second home on it. Does the piece of property qualify for a second home therefore allowing me to deduct the mortgage insurance?

Thank you

Re: Mortgage insurance for property

ThomasM125 — Tue, 24 Feb 2026 15:37:56 GMT

No, the property does not qualify as a second home since there is no house on it yet. You can learn more in this IRS article.

Re: Mortgage insurance for property

morganm50 — Tue, 24 Feb 2026 18:23:59 GMT

Thanks for the info and the article.