Home equity loan vs line of credit loan?

Posted on Oct 26, 2012 in Stated Income Loans

income vs home loan
by micah rich

Question by Richard H: Home equity loan vs line of credit loan?
Does anyone know if a home equity loan is somewhat deductible on income tax?

Best answer:

Answer by Lindsey
i think the interes is on the first 12 months

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4avg.rating 10 votes.

3 Comments

  1. ya its is deductible

  2. It is important that if you ask a question about such a difficult subject (these are extremely difficult subjects) that you tell us at least what you want to use the information for.

  3. yes the interest paid on a home equity loan will be tax deductible depending on what u use the heloc on, please check with your local tax accountant to see.