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, and a $40,000 SALT cap. Owners should consult tax professionals and update ...

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 ...

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 ...

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 ...