Home equity loans can be used for any number of reasons. Whether you want to consolidate or pay down high-interest credit card debt, finance a major home repair or project or pay for big expenses ...

You may be able to use the mortgage interest deduction to deduct the interest you pay on your second home's mortgage when you do your taxes. Mortgages for second homes require larger down payments ...

Kiah Treece is a former attorney, small business owner and personal finance coach with extensive experience in real estate and financing. Her focus is on demystifying debt to help consumers and ...

You may also be able to deduct the mortgage interest paid on a second home, up to the $750,000 or $1 million limit for both loans combined. "If you have a second home, you have to add the two ...

A home equity loan and a ... If you decide to use a second mortgage to "build, buy, or substantially improve" your house, then you can deduct the taxes you pay on the loan from your taxable ...