If you rent out the property the interest is a tax deduction as a business expense. The taxes and insurance are also a tax deduction. You can still take the s

If you rent out the property the interest is a tax deduction as a business expense. The taxes and insurance are also a tax deduction. You can still take the standard deduction at the personal level. There are a variety of state, local and sometimes federal tax credits or down payment assistance for new home buyers.