Is a home equity loan tax-deductible?

Answer According to the IRS, the interest on a home equity loan is tax-deductible if the loan was taken out after October 13, 1987 and totaled $100,000 or less. The loan cannot exceed the fair market valu... Read More »

Top Q&A For: Is a home equity loan tax-deductible

How to Make your New Car Tax Deductible using a Home Equity Loan?

Home equity loans are traditionally thought of as a smart money source for home renovation projects because they are often low-interest loans, and the interest on a home equity loan is tax deductib... Read More »

Is a Home Equity Loan Tax-Deductible for a Co-Signer?

The mortgage interest tax deduction could mean saving thousands of dollars each year on your tax bill, because even relatively small interest rates mean big numbers on a large loan like a mortgage.... Read More »

Is the interest tax deductible on a home equity loan?

On One Hand: Limited AmountAs of 2010, you can only deduct the interest on the first $50,000 of your home equity loan. If you file a joint return with your spouse, the limit increases to the intere... Read More »

What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »