Mortgage Interest Deductions

by First Time Home Buyer from Indiana, USA

Who gets the mortgage interest deductions? We just bought our first house and our parents are our private mortgage financing. We put down a 20% down payment and they loaned us the rest, around $97,000.

Is there a way to register the mortgage with the government to properly pay taxes on the mortgage and/or mortgage interest?

Kate Answers: Mortgage Interest Deductions

Dear First Time Home Buyer, Thank you for contacting Get-Your-Best-Mortgage-Rate.com regarding mortgage interest deductions. This question is frequently asked so I know many Readers will benefit from your letter.

Go to Private Mortgage Financing where I have answered your questions.

After reading, please let me know if you have more questions. Take a moment to bookmark this page to your favorites and visit often for more home mortgage financing tips.

You can also invite friends to comment on this page or ask a question of their own like you did.

Best Wishes,

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P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information.

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