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Thread: Query about Home Loan..

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    Query about Home Loan..

    Hello everyone,


    I am planning to buy a home on loan very very soon so wanted to know that what exactly is the criteria for the tax rebate for home loan, can you anyone please tell me the Process of home Loan ?

    Thanks in Advance.

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    Email problem Phil Cooper's Avatar
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    No tax break on home loan, unless you rent it out.

    Personal use = no tax break.

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    Gold Member Houses4Rent's Avatar
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    If rented out you can only claim the interest portion of the instalment as deduction from the income to reduce you taxable income.

    If you buy in a trust the trust will get that tax benefit, not you directly.
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    Quote Originally Posted by Harry.Jakson View Post
    Hello everyone,


    I am planning to buy a home on loan very very soon so wanted to know that what exactly is the criteria for the tax rebate for home loan, can you anyone please tell me the Process of home Loan ?

    Thanks in Advance.
    USA taxation laws would differ from our South African ones

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    Diamond Member AndyD's Avatar
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    Yep, well spotted Mr Flaker. His stated location is also misleading, the ipaddress is from the Indian sub-continent.

    I suspect the OP was posting with the intention of getting exposure for the affiliate link in his signature (which I've since removed). The question has little relevance on a South African forum so I've closed the thread.
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