20% of the cost of my house was financed through personal credit rates. is the interest tax deductible?

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80% of the cost was financed through mortgages. I have two tickets, mortgages and installment credit. Then the interest on installment loans tax deductible? If yes, you can also contact preferably under IRS source.

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    February 5, 2011 at 3:43 pm

    By definition a personal loan is not secured by anything but your signature. If that is the case, the interest on it is NOT deductible. If the 20% loan is actually a mortgage loan, i.e. it is secured by the property, then it would be deductible.

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