One of the benefits of homeownership that many of us hear about is the mortgage interest tax deduction. After all, how many loans out there provide you with a tax deduction for the interest that you pay? (Student loans and business loans, as well as mortgages.)
But are you really benefiting from the mortgage tax deduction? And is it really something that has a big impact on your finances? As with most matters of personal finance, the answer depends on your own personal situation.