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.
Peter Knight, Agent, Fishers, IN. This area enjoys low electric rates, so there is little cost difference between the two forms of heating, in fact, cost could favor electric. But Robert Haynes is correct; there is a difference in the air temperature from a heat pump compared to a gas furnace.For comfort, especially if you're cold-blooded, a gas furnace is often preferred.ut Robert Haynes is correct; there is a difference in the air temperature from a heat pump compared to a gas furnace. For comfort, especially if you're cold-blooded, a gas furnace is often preferred.