Permanent Mortgage Insurance Deduction

Mortgage Insurance Tax Deduction Act of 2025This bill reinstates and makes permanent the itemized tax deduction for mortgage insurance premiums. Under current law, only premiums paid before 2022 (and after 2006) for qualified mortgage insurance (mortgage insurance provided by Department of Veterans Affairs, the Federal Housing Administration, the Rural Housing Service, and certain private mortgage insurers) in connection with obtaining a mortgage may be deducted as an itemized tax deduction. (Some limitations apply.).

1. This bill makes the mortgage insurance premium deduction permanent. 2. Homeowners can continue to deduct their mortgage insurance costs from their taxes. 3. The change applies to payments made after December 31, 2024. 4. This bill removes the temporary status of the mortgage insurance deduction. 5. It helps make homeownership more affordable for many families.

Homeowners who pay for mortgage insurance will benefit from this bill.