Having a mortgage can be a huge tax benefit and one of the major benefits associated with real estate ownership. When you are purchasing a new home, it is important to understand the tax ramifications associated with it. Be sure to contact me if you have additional questions. I can advise you based on my experience and general understanding of tax codes only. I can direct you to a very competent CPA who would be able your more advanced questions. Enjoy the real estate tax resources below.