Whether you are a first-time home buyer or a longtime homeowner, you may be eligible for a tax credit on a house purchase if you meet IRS guidelines.


You may be able to deduct Private Mortgage Insurance, tax deductions for vacation homes, interest on home equity loans, tax deductions when you work from home, tax breaks on capital improvements to your home, and tax deductions for disaster-related losses.

You can earn a federal tax credit and lower your utility bills at the same time when you improve your home's energy efficiency.