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Can I claim the interest rate I pay on my new mortgage ?

Is interest on a mortgage claimable ?
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2 Replies

Can I claim the interest rate I pay on my new mortgage ?

mortgage on what?  please provide details. is it a refi or original mortgage?

 

JohnB5677
Expert Alumni

Can I claim the interest rate I pay on my new mortgage ?

Yes, interest in a home mortgage is claimable.  However, there are several rules that come into play. 

  • You should receive a Form 1098 that will detail the interest, and possibly real estate taxes for the property.
  • There are limitations on the amount of interest you can claim.
  • You can only claim two properties.
    • Your residence, and
    • One second property

I hope this is enough to get you started.  If you can clarify more details we'll be happy to answer additional questions.

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