What parts of mortgage payments can be written off of taxes? Looking to purchase a home between 250-300k.
Lorne Harvey (lorneharvey)
#77 ranked lender in Washington - 439 contributions
Generally speaking all of the interest should be deductible, and perhaps some of the origination charges. I highly recommend you speak with a tax accountant, as I am not one.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
More info needed.. but in general, you can write off the interest as well as some of the closing costs.. and if you make less than $109K (married) then you can write off mortgage insurance as well. Also, if you use part of your home for a business, then you can write off a portion of your home via depreciation, and a portion of the utilities associated with that portion of the home used for business.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
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