Mortgage Loan Interest


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Mortgage Loan Interest


 

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mortgage interest and tax?
I'm a first time home buyer, so I'm not clear on how the mortgage loan interest deductible works. For example, if I pay $6000 federal tax per year and the mortage loan interest is $9600 per year, do I get $6000 back when I file tax? Or $9600 is simply deducted from my annual gross income when I file tax?

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what kind of mortgage loan interest can you get if your credit score is 650?
im a first time home buyer and i would like to know what kind interest i can get.

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Tax Question?
My boyfriend and I (NOT married) bought our first house together on 11/30/07. We are both on the mortgage. We file seperate tax returns. How does the house purchase affect the way we should file this year? He has student loan interest that he takes as a hefty deduction each year. I don't have any deductions. Should I claim the mortgage loan interest and he not do anything different with regard to the house? Is there anything else I should know about that would affect our tax filing? Thanks in advance! That's just what I needed to know...makes sense. Thanks so much!

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