Delaware Mortgage Loans

Mortgage Insurance will be tax deductible in 2007 for some Delaware homeowners, that means for some home owners looking for a 100% financing, it may be cheaper to get mortgage insurance rather than a piggy back loan.

The 109th Congress passed the tax law in its final hours. Hundreds of thousands of homeowners will save a total of $91 million when they file their tax returns in 2008, according to estimates prepared by the mortgage insurance industry.

Bottom line for Delaware consumers: Don’t get a piggyback loan without taking a serious look at mortgage insurance, because mortgage insurance is likely to be cheaper in the long run, and it might even cost less in the short run.