Mortgage Insurance is Deductible through 2011

I’ve worked with Paul on a transaction or two and have always been impressed with his knowledge and follow-through. He sends out useful tips from time to time and this one is worth sharing. I included his contact info at the bottom, in case any of you are shopping for a lender.

Great news for the New Year! The mortgage insurance tax-deductibility law has been extended through 2011.*

  • Eligible borrowers with adjusted gross incomes up to $100,000 may be able to deduct 100% of the MI premiums paid in 2011.
  • Deductions are phased out in 10% increments for borrowers with adjusted gross incomes between $100,000 and $109,000.

Source: PMI Mortgage Insurance Co.

Paul McCausland
Mortgage Consultant
1stMariner Mortgage
Office (800)474-0387
Fax (301) 948-3883
paul@thehomeloancenter.net

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