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.
In most situations, an electric tankless water heater is a better choice than a gas unit due to their smaller size, lower cost, longer life, limited maintenance requirements, cheaper and easier installation, and much higher thermal efficiency (which off-sets the typically higher cost of electricity vs. natural gas). The relative cost of installation. 2  The difference in cost between an appropriately-sized electric and gas tankless water heater. 3  Water usage habits and needs. 4  Homeowner/ user preference. 5  The differential between electric costs and gas costs in your area, and your personal outlook for changes in such costs in the future.