Collecting your documents and getting ready for income tax filing? Don’t forget to include any mortgage insurance premiums you may be able to deduct.
With the current low down payment loans, (as little as 3%), the mortgage insurance premiums are going to be a good deduction in addition to the normal mortgage interest and real estate tax amounts. The following graphic will help you with the current details for claiming them in 2016, and we will keep you posted if there are any changes for the 2017 tax year.
Best wishes for happy homeownership!
