The final compromise Federal tax plan was released. The 500-page bill includes the limit for the mortgage interest deduction (MID) reduced from the current $1 million to $750,000 on mortgages for a first or second home and the deduction of state and local tax deductions, including property, sales, and income tax, capped at $10,000.
This still needs to be voted on by the entire House and Senate then will go on to the President for signature. Watch for updates.
FHA Loan Limits Up for 2018
