: You can deduct interest paid on up to $750,000 of mortgage debt ($375,000 if married filing separately) for a first or second home.
Topic no. 504, Home mortgage points | Internal Revenue Service deductible home buying expenses
This cap is reduced to $20,000 for those who are married and filing separately. : You can deduct interest paid on up
Interest on home equity loans is only deductible if the funds were used to buy, build, or substantially improve the home securing the loan. 000 of mortgage debt ($375