Is the Interest on a Jumbo Mortgage Tax-deductible?
New tax laws in 2018 have confused many homeowners about the tax deduction on mortgage interest. The changes don't affect most borrowers with conforming loans, but jumbo borrowers need to know the details. Interest on the first $750,000 in mortgage debt for your primary residence or second home is tax-deductible. And the limit is $375,000 for those who use the married filing separately tax status. If you already had a home mortgage before Dec. 16, 2017, and you want to refina