Updated over 14 years ago on . Most recent reply
Personal Loan to Purchase Property
There is a property I have been eyeing that I am interested in purchasing here in Arizona. The home is an older mobile home that has a fenced lot and is being sold for 23k. While I do have the cash, I do not want to drain my bank account to purchase the property.
If I were to take out a personal loan to purchase the property, strickly for this purchase, could I claim the interest for tax deductions?