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๐ก Changes Ahead for Homeowners ๐ก
๐ก Changes Ahead for Homeowners ๐ก
The new One Big Beautiful Bill Act (OBBBA) locked in some important rules around mortgage interest and insurance:
- Mortgage interest is capped at loans up to $750,000 (unless youโre grandfathered in with an older loan).
- Starting in 2026, you may be able to deduct mortgage insurance premiumsโbut only if your income is under certain limits.
- Older โgrandfatheredโ mortgages (from before late 2017) can still qualify for the higher $1 million cap.
โ๏ธ Planning Opportunities
Homeowners who itemize can benefit from strategic tax planningโstacking mortgage interest with SALT and other deductions (including senior bonus deductions)โto maximize their tax outcome.
