If the loan is not a secured debt on your home, it is considered a personal loan, and the interest you pay usually isn't deductible. Your home mortgage must be secured by your main home or a second home. You can't deduct interest on a mortgage for a third home, a fourth home, etc.VERVIEW. If you're a homeowner, you probably qualify for a deduction on your home mortgage interest. The tax deduction also applies if you pay interest on a condominium, cooperative, mobile home, boat or recreational vehicle used as a residence.
A gas heating system is less expensive to operate than an electric unit. Natural gas is a cheaper form of energy than electricity and over the past few years, the cost of natural gas has actually decreased. However, a gas-powered unit will require a larger initial investment than an electric unit.Gas heating systems generally heat the home faster than electric units.atural gas is a cheaper form of energy than electricity and over the past few years, the cost of natural gas has actually decreased. However, a gas-powered unit will require a larger initial investment than an electric unit. Gas heating systems generally heat the home faster than electric units.
Replacing the old furnace in your central heating system with a new, more efficient model can offset volatile energy prices. Money aside, today's furnaces pollute less and boost comfort by producing heat more steadily than older furnaces. Gas is the most common heating fuel and this report focuses on gas furnaces.fficiency also matters. Gas is currently the most common heating fuel and most new central-heating systems use gas. How efficiently a furnace converts gas into heating energy is reflected in its annual fuel-utilization-efficiency (AFUE) rating, which is measured as a percentage.