There's piggyback loan to make up the 20% down payment, but I'd like to know if PMI can be tax deductible.
2007-05-22 09:37:34 · 3 answers · asked by Vivian C 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
PMI is deductible in 2007 only under the current law. It's for new loans only that are taken out during 2007. If Congress doesn't act to extend it, it will expire at the end of 2007.
2007-05-22 13:31:57 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
PMI (deepest Mortage coverage) is deductible in case you closed after 12/31/2006. house proprietors coverage isn't deductible. No, you are not getting your loan pastime back on the tip of the year. How lots your rather tax income from the loan is relies upon on your tax bracket and what all the itemized deductions are.
2016-12-11 17:22:44 · answer #2 · answered by ? 4 · 0⤊ 0⤋
I am pretty sure it is tax deductible...i just got a new loan and that was an option for me and i was told it was deductible
2007-05-22 09:41:20 · answer #3 · answered by Michael 3 · 0⤊ 1⤋