About two out of five home loans nationwide are backed by either private or government mortgage insurance, according to MICA.
The deduction is based on the couple making less than $100,000 a year, filing a joint tax return, and taking out a 30-year fixed loan with a 6.125 percent interest rate. Their mortgage insurance premiums would be $205 a month, or $2,460 a year.
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- Published:
- 12.11.07 / 9am
- Category:
- Home Mortgage Insurance
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