How much of a home equity loan can I place on my primary home and still be able to deduct the interest? I paid $382000.00 for it, have a $70000 on now and need to take out
Another $110000.00. Its worth $750000.00 Thanks

The limit is generally $100K on a second loan. You can get around that by refinancing the primary loan.

What interest rate are you paying on the first loan?

It's 5.01% with $213000.00 to go. Too low to refi. The second is 5.625% Thanks

Glad to help!

Would it matter if the first 2nd home equity loan paid off a mortgage on a 2 family investment property? Tho old mortgage was 8.875%. Which it did.

No, it would not, because the 2 family investment property did NOT secure the 2nd home equity loan.

The loan is being used to pay for my sons college, would any of the interest by deductible?

No. Those are special category loans that are reported to the IRS. If you claimed the interest as stident loan interest, there would be no audit trail to verify the interest paid, and the IRS would challenge it.

Sorry!