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What is Home Mortgage Interest Deductions?

What is Home Mortgage Interest Deductions?

The major benefits for home mortgage finance include the tax deduction allowed for interest cost of mortgage. The deductions are allowed subject to fulfillment of some conditions. The home equity is calculated by deducting mortgage amount from the fair market value (FMV) of home. Owners prefer use of equity for their other loans which carry higher interest costs due to admissible tax deductions.

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