WASHINGTON — In the contentious debate over whether to reduce or eliminate the home-mortgage interest tax deduction — or leave it alone — one fact has been virtually unchallenged: The ...

Reinstated mortgage insurance premium deductibility and a higher cap on state and local tax deductions could change whether ...

5 mortgage closing costs that are tax-deductible The current standard deduction is $12,400 for single individuals and $24,800 for married couples, according to the Internal Revenue Service (IRS).

From increased deductions on mortgage interest to more incentives for low-income housing construction, the 'Big Beautiful ...

A 1% fall in borrowing costs would reduce the annual deficit by 1%. That is $300 billion a year in savings. Eliminating the mortgage interest deduction would be a win-win for the country and the ...

If you used a cash-out refinance in 2021 to get another $900,000 mortgage, you may be able to deduct the interest you pay on up to $825,000 in debt from your new mortgage—but not the additional ...

Tax season is officially here, and millions of Americans are now preparing to file their taxes for the income they earned in 2024. If you own a home, the mortgage interest deduction could reduce ...

In a marked political win for President Donald J. Trump and his Administration, H.R. 1, the One Big Beautiful Bill Act, ...

To be eligible for the home mortgage interest deduction, a buyer would have to be among the 11% of taxpayers who itemize their returns. Above, a home for sale in Damascus, Maryland.

Total annual loan cost is the expected annual cost of a reverse mortgage over the life of the loan, including closing costs, appraisal fees, and mortgage insurance.