what is home equity loan limit for interest deduction?
In addition, interest on home equity debt can also be deductible. Home equity debt essentially includes any other loan that is secured by your main home or second home. A lower borrowing limit of $100,000 for most taxpayers or half that for married taxpayers filing separately applies to home equity debt. What counts as mortgage interest? The portion of your monthly payment that goes to interest clearly counts as deductible mortgage interest for these purposes.