What Is Qualified Mortgage Insurance?

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Tip 1 - Qualified Mortgage Insurance Premium Definition | Investopedia

Published: 9 years, 4 month(s) ago | Submitted by Marielle Brinkman | permalink

Premium paid by homeowners on mortgage insurance for FHA loans that can be deducted in the same manner as home mortgage interest. Qualified mortgage-insurance premiums can be deducted in addition to allowable mortgage interest for up to three years. In order to qualify, the mortgage must have been originated after 2006.
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For further reading: http://www.investopedia.com/terms/q/qualified-mortgage-insurance-premium.asp ^[1]

Tip 2 - Own Your House? Don't Miss Out on This Tax Deduction

Published: 9 years, 4 month(s) ago | Submitted by Bonny Austin | permalink

Mortgage insurance premiums may be tax deductible. To qualify, the insurance policy must be for home acquisition debt on a first or second home. This itemized tax deduction is valid for the years 2007 through 2013.

For further reading: http://taxes.about.com/od/deductionscredits/qt/mortgageinsuran.htm ^[2]

Tip 3 - Is Private Mortgage Insurance Considered a Qualified Mortgage Insurance Premium?

Published: 9 years, 4 month(s) ago | Submitted by Robert Blackburn | permalink

The Internal Revenue Service allows for certain mortgage-related deductions from taxable income. The deduction of interest over the life of your mortgage can typically save you thousands of dollars ...

For further reading: http://budgeting.thenest.com/private-mortgage-insurance-considered-qualified-mortgage-insurance-premium-28957.html ^[3]