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Deduct Mortgage Insurance for Tax Savings

December 30, 2015

Great news! Congress has voted to extend the tax deduction for mortgage insurance (MI) through 2016.
If your mortgage requires mortgage insurance, you can deduct it on your federal income taxes this year and next year.

Who qualifies for the tax deduction?

Borrowers with adjusted gross incomes up to $100,000 can deduct 100% of their borrower-paid MI premiums. Deductions are reduced by 10% for each additional $1,000 of adjusted gross income, phasing out after $109,000.
The threshold for married borrowers filing separately is $50,000 of adjusted gross income per person. Deductions are reduced by 5% for each additional $500 of adjusted gross income, phasing out after $54,500.

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    April 17, 2020

    Zillow 5 Star Review  Stephanie is the epitome of “on top of it”! She was absolutely amazing throughout this entire process and was able to find me a home (an off market, “for sale by owner” home) in a beautiful area where I never thought I’d be able to afford a home! She was on top of the seller the whole time, and...

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    June 6, 2020

    Zillow 5 Star Review  Chrissie could not have been more helpful in the whole home buying process. We were first time home buyers, and out of state, so we had a lot of questions and needed a lot of extra explaining and frankly, dumbing down of the whole process. She did all of that and more! She was very responsive and...

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    August 21, 2020
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    February 4, 2020

    Zillow 5 Star Review  Stephanie came highly recommended to me and she exceeded my expectations. She brings a unique blend of professionalism, personalty, optimism and brings a great depth of resources to overcome obstacles. I would eagerly work with her again.

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    September 9, 2020

    Zillow 5 Star Review  Chrissie was awesome to work with! She always made herself available and helped us navigate this crazy market. She helped keep us in check and kept us going. I highly recommend Chrissie if you would like a realtor that feels like a friend through it all.

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    April 3, 2020
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    May 22, 2020

    Zillow 5 Star Review  Her team is amazing, she staged the house and we had an offer within three weeks during COVID19. Her responsiveness to any concerned I had were unmatched. She recommended great contractors to help sell our home.

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    June 5, 2020

    Zillow 5 Star Review  Amazing agent!! Stephanie help me find the perfect place in the perfect location for me. Just moved back to Boise and she was wonderful at showing me around. She has such integrity and is connected to some of the best people in the industry! We had fun looking at homes in several areas and she...

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    March 11, 2020
  • Zillow 5 Star Review  Look no further! Stephanie is the best, hands down. She helped us find a house in this tough market with low inventory. She helped us through every step and went above and beyond with helping after closing. Her local knowledge is second to none. Whatever we needed she knew exactly where point us. I...

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    October 28, 2020

    Zillow 5 Star Review  Stephanie made selling our home such an easy and stress free process. She is very knowledgeable and is thorough and timely in her communication. Each step was explained as we went through the process so we knew what to expect. She had our best interest in mind the whole time. I would highly...

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    Zillow 5 Star Review  Chrissie is hands down the best realtor we have ever dealt with. She made selling our home such an easy and stress free process (within 7 days!). She is very knowledgeable and is thorough and timely in her communication. Each step was explained as we went through the process so we knew what to...

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    November 20, 2020
  • Zillow 5 Star Review  Definitely helped us with locating the perfect house. Listened to us and what we were looking for and what areas we would like the best. Also has been a great help with setting up things while we are delayed with our move.

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    April 3, 2020

    Zillow 5 Star Review  Chrissie was the best to work with! She helped us find our home effortlessly and no surprises at closing. She really sought to understand what we were looking for and didn’t disappoint. ?? ?? ?? ?? ??

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    June 23, 2020

    Zillow 5 Star Review  We couldn't have asked for a better agent. Stephanie was patient, thorough, responsive, professional and had our best interests at heart from start to finish. Relocating from another state presented a few challenges. However, Stephanie was with us every step of the way. Her response time to our...

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    June 21, 2020
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