Mortgage Insurance Tax Deduction Act of 2023

HR 3891 makes the federal tax deduction for mortgage insurance premiums permanent. It changes the tax code to allow homeowners with mortgage insurance (like FHA or private mortgage insurance) to deduct these costs on their federal income taxes year after year, rather than having the deduction expire. This applies to premiums paid after December 31, 2022. The bill directly affects homeowners who pay mortgage insurance on their loans.