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Sep 19
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Taking a mortgage to buy a home can come with tax advantages that mortgage owners can take advantage off to lower their tax bill.
1. Interest on a mortgage is usually tax deductible. You can deduct the mortgage interest from your income taxes.
2. You’ll get a tax break on capital gains–if any–when you sell.
3. These tax breaks means taking that mortgage will costs you less, often a lot less, than renting.
For more information consult a tax attorney or accountant for specific details.