06/01/2026
6 tax deductions after you buy a house
1- 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐭𝐚𝐱𝐞𝐬
As a homeowner, you can deduct up to $40,000 of your property taxes.
2- 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭
You can deduct the interest you pay for your mortgage - and since most of your payment goes towards interest in your first few years after buying a house, that means a large part of your payment is deductible.
3- 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐩𝐨𝐢𝐧𝐭𝐬
If you pay points to buy down your interest rate, that counts as interest towards your tax deductions.
4- 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞
If you put less than 20% down and pay PMI, it can be added to your tax deductions (starting in tax year 2026).
5- 𝐇𝐨𝐦𝐞 𝐢𝐦𝐩𝐫𝐨𝐯𝐞𝐦𝐞𝐧𝐭𝐬
If you take out a home equity line of credit (HELOC) to pay for substantial home improvements, the interest can be tax-deductible.
6- 𝐂𝐥𝐨𝐬𝐢𝐧𝐠 𝐜𝐨𝐬𝐭𝐬
Part of your closing costs includes prepaid interest and property taxes, which can also be tax-deductible!
Important note: Most of these deductions are available if you itemize your deductions… meaning they add up to more than $15,750 if you’re filing single and $31,500 if you’re filing jointly.
DO NOT just wing the process - there’s way too much money at stake!
INSTEAD, Comment 👉 𝐂𝐋𝐀𝐒𝐒 to take the FREE Homebuying 101 class!
