Is there a tax credit for purchasing a new home?

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Is there a tax credit for purchasing a new home?

Are there any extra credits if you payfor your home completely when you purchase it

2007-01-27 07:12:03 · 1 answers · asked by Leslie Q 1 in Business & Finance ➔ Renting & Real Estate

1 answers

No. You may be able to deduct some or all of your mortgage interest, points paid, and your monthly mortgage insurance premium (sounds like you will not have MI), but there is no sort of write-off for paying cash for a home.

2007-01-27 08:52:14 · answer #1 · answered by CJKatl 4 · 0⤊ 0⤋