If the loan is not a secured debt on your home, it is considered a personal loan, and the interest you pay usually isn't deductible. Your home mortgage must be secured by your main home or a second home. You can't deduct interest on a mortgage for a third home, a fourth home, etc.VERVIEW. If you're a homeowner, you probably qualify for a deduction on your home mortgage interest. The tax deduction also applies if you pay interest on a condominium, cooperative, mobile home, boat or recreational vehicle used as a residence.
A gas heating system is less expensive to operate than an electric unit. Natural gas is a cheaper form of energy than electricity and over the past few years, the cost of natural gas has actually decreased. However, a gas-powered unit will require a larger initial investment than an electric unit.Gas heating systems generally heat the home faster than electric units.atural gas is a cheaper form of energy than electricity and over the past few years, the cost of natural gas has actually decreased. However, a gas-powered unit will require a larger initial investment than an electric unit. Gas heating systems generally heat the home faster than electric units.
Compared with electric heat, propane is better in so many ways: 1  Propane is cheaper than electric: According to the U.S. Department of Energy, heating a home in the U.S. with propane in recent years has cost far less than heating with electricity. An electric heat pump produces heat below body temperature (98.6Â°F), so the air actually feels cool when placing your hand in front of a vent. 2  Propane furnaces last longer than electric heat pumps: Propane-fueled furnaces last 5 to 10 years longer than electric heat pumps, on average.