mortgage interest on home equity line

[user17750049161]

I had some loan balance on my primary residence when I decided to take out a home equity loan to buy a rental property. Can I claim the mortgage interest on my home equity loan?I am a little confused since everywhere I have read it mentions that for the mortgage interest to qualify, one must either buy or remodel the property securing the loan.In my case my primary residence is the one securing the loan but I bought an entirely different  property as the rental. 

[DavidD66]

In order to deduct the interest as an itemized deduction on Schedule A you must have used the proceeds to buy or improve the property secured by the loan.  That does not apply to interest used to purchase a rental property (or other business assets).  You can deduct the interest on the portion of the loan used for your rental property as a rental expense.  

[Bsch4477]

Yes, but the interest is not deducted as a mortgage interest deduction but rather as an investment expense on Schedule E.