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

OBBB Act updates key tax rules for condo owners, including higher standard deductions, a $750,000 mortgage interest limit, ...

To understand how it works, take a look at this mortgage interest deduction example: If you purchase a $400,000 home with a 20% down payment and take out a 30-year, fixed-rate loan with a 7% ...

While the deduction itself isn't expanding, the bill restores and boosts other federal tax breaks that benefit homeowners. A deduction for mortgage insurance premiums has been revived, and a cap ...

WASHINGTON, July 13-- Rep. Julia Brownley, D-Calif., introduced the "Mortgage Insurance Tax Deduction Act" on June 7, 2023. The text of the bill was released on July 12. H.R. 3891. A bill to amend ...

Mortgage Insurance Premium (MIP) is an insurance you’ll have to pay if you get a Federal Housing Administration (FHA) loan. MIP comes in two parts: upfront plus annual costs. MIP is calculated ...

A higher threshold for property tax deductions and the ability to deduct mortgage insurance costs are two big wins for Texas ...

___ Home Mortgage Insurance Premium Deduction - It's one of the more popular deductions that was extended through 2016 with passage of the PATH Act - allowing most homeowners to write off their ...

An aerial view of homes in Miami Beach, Florida. Getty Images What To Know Between 2007 and 2021, mortgage insurance premiums were tax deductible for these homebuyers, but the legislation expired ...