Review Of Do You Get Any Tax Breaks For Buying A Home References. The most beneficial tax break for homebuyers is the mortgage interest deduction limit of up to $750,000. As a homeowner, you’ll face property taxes at a state and local level.

Up to $15000 tax credit in. If you itemize, you can deduct interest on up to $750,000 of debt ($375,000. Due to the tax cuts and jobs act, the amount you can deduct depends on when you bought your house.