Deduct Your MI Premium
Your mortgage insurance premiums may be tax-deductible if you bought or refinanced your home on or after January 1, 2007. To qualify, your income and your home need to meet certain requirements:
- Homeowners with a household income of $100,000 or less qualify for the full tax deduction.
- Households with incomes of more than $100,000 and up to $109,000 will be eligible for a reduced deduction.
- The property must be a principal residence of the taxpayer or another residence that is used for personal purposes by the taxpayer.
- Investor loans are not eligible.
For details on potential tax benefits, please click here.
United Guaranty does not provide tax advice. Please consult your financial advisor for more information.