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.
1 You can convert an existing gas furnace to a hybrid system by adding an electric heat pump. 2  Conversion is less expensive than to switch to an all-electric heating system, which could cost $3,000 or $4,000 to upgrade meters, electrical boxes, wiring, etc. to get the right service to support the system.lectric vs. Gas Heat. In a shift from the past, it is now less expensive to heat with electricity in Indiana than with natural gas. 1  The cost of gas has risen an average of 8% a year over the last 10 years, a huge increase.