Cash Out Re-Fi for an Investment Property

[Manny Rana]

Hi Everyone - 

Just have a quick question.  I’m looking at cash out refinancing my current home as an option of partially funding the down payment I need for another investment property I’m looking to purchase.

The question I have is the interest on the new loan deductible if I use the cash as a down payment on an investment property?

Thank you very much,

Manny