Is a down payment on a house tax deductible?

Answer There are a number of items associated with one's home that are tax deductible, however, the down payment used to purchase the home is not. The interest paid on your mortgage, however, is tax deduc... Read More »

Top Q&A For: Is a down payment on a house tax deductible

Do you need a down payment to buy a house?

On One Hand: Lenders Prefer That You Have a StakeYes, lenders are typically more likely to give you a respectable loan if they see you are assuming some of the financial risk by contributing your o... Read More »

What Is the Average Down Payment on a House?

The average down payment on a house is 10% of the mortgage loan. Most mortgage lenders require a 20% down payment, but usually accept the 10% down payment if the homeowner pays for Private Mortgage... Read More »

Can you use your rsp's for a down payment on a house?

Yes, you use your RRSPs for a down payment on a house. Any qualified and pre-approved first-time home buyer is free to remove up to $20,000 from a registered retirement savings plan. There will be ... Read More »

How to Calculate How Much Is Needed for a Down Payment on a House?

You have just tied the knot, and now you are ready to move into your dream home. You want to know how much of a deposit you need to put down on your home so that you can afford the payments in the ... Read More »