Home mortgage interest deduction

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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.