Home mortgage interest deduction
Tax deduction on mortgage interest / From Wikipedia, the free encyclopedia
A home mortgage interest deduction allows taxpayers who own their homes to reduce their taxable income[1] by the amount of interest paid on the loan which is secured by their principal residence (or, sometimes, a second home). The mortgage deduction makes home purchases more attractive, but contributes to higher house prices.[2][3]
Most developed countries do not allow a deduction for interest on personal loans, but the Netherlands, Switzerland, the United States, Belgium, Denmark, and Ireland allow some form of the deduction.