mortgage interest
Borrowing fee, housing
Mortgage interest is the cost a borrower pays a lender for the use of money borrowed to purchase real estate.
It's calculated as a percentage of the outstanding loan balance and typically makes up most of the early payments on a home loan.
In many countries, mortgage interest is tax-deductible: We itemized deductions to claim the mortgage interest.
- adjustable rateInterest that fluctuates
- tax deductionPermitted income reduction
- tax write-offExpense reducing taxable income
- property taxesGovernment charges on land
- foreclosureLender seizes mortgaged property
debt trap · predatory lending · itemized deductions · lien · underwater · refinancing · property value · housing market · medical expenses · charitable donations · bank · credit score · escrow account · points · balloon payment · APR · homeowner · closing costs
- Tax Rulesdeductions, credits, exemptions, filing status, withholding
- housing costsrent, property insurance, home insurance, electricity, down payment
- tax deductionsdeductions, tax deductions, exemptions, standard deduction, itemized deductions
- interest deductions
- tax terms1040, W-2, 1099, W-4, tax refund
- real estatehouse, home, apartment, property, sale
mortgage interestinterest income
Money earned from loans
investment return · savings interest · dividend income · capital gains · rental income