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i bought a house last year what can i deduct down payment for second home Using Home Equity for Down Payment on a Second Home – Besides a home equity loan or HELOC, there are a few more ways you could go about getting a down payment for a second home. Cash-out refinance Effectively replacing your existing mortgage, a cash-out refinance allows you to take out a new mortgage worth more than your existing loan.Can I deduct my mortgage? – TurboTax® Support – · The IRS lets you deduct your mortgage interest, but only if you take the itemized deduction.You can’t deduct the principal (the borrowed money you’re paying back).
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A loan calculator is a simple tool that will allow you to predict how much a personal loan will cost you as you pay it back every month. It’s quite simple: You provide the calculator with some basic information about the loan, and it does the math and spits out your monthly payment.
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