Blogging Broker

So, you buy a house and now you have a mortgage interest deduction.  In the past this deduction was fairly significant.  Today,  not so much unless your mortgage payment is over $200k.  Rising home prices in California took the median price of a home up to around $550k which meant significant deductions for the homebuyers a few years ago — esp. considering most buyers at those prices bought with little to no down.

Today the median price of home in California (as per lateste C.A.R. report) is  around $280k.

Here’s a caluculator you can use to determine the deductibility of your mortgage interest.