This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

• The home acquisition debt limit is $750,000 ($375,000 MFS) for mortgages taken out after December 15, 2017.

• Mortgages from on or before December 15, 2017 are grandfathered under the older $1 million limit ($500,000 MFS).

• Interest on home equity debt is only deductible if the proceeds are used to buy, build, or substantially improve the qualified residence.

• Points paid on an original mortgage are deductible in the year paid, but points on a refinance must be amortized over the loan's life.

• The interest amount on Form 1098 must be adjusted if the mortgage balance exceeds the legal debt limitations.

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