Pros And Cons Of A Home Equity Line Of Credit (HELOC)
Savings Corner
APRIL 4, 2024
Possible tax-deductible interest Even after the Tax Cuts and Jobs Act of 2017, you can still deduct interest paid on a HELOC if you use the money for home renovations. Specifically, the IRS allows deductions on HELOC or home equity loan interest payments if the funds are used to “buy, build or substantially improve the residence.”
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