Are you a current homeowner or looking to become one soon? As a financial advisor in Lexington, Kentucky, I want to walk you through two OBBBA provisions that may have just put some things in your favor.

The One Big Beautiful Bill Act made the $750,000 mortgage interest deduction limit permanent and made PMI premiums deductible for the first time. At today's home prices and mortgage rates, those two changes together have real implications for whether itemizing makes sense for your household.

This is week three of our OBBBA series on The Groundwork.

WHAT YOU'LL LEARN

•      The $750,000 acquisition debt limit for mortgage interest deductibility is now permanent

•      What counts as acquisition debt: your mortgage and a HELOC used to buy, build, or substantially improve your home

•      What disqualifies a HELOC from this deduction: using it for debt consolidation, vacations, or other non-home expenses

•      PMI premiums are now deductible under the OBBBA

•      What PMI is and when it applies: when you purchase a primary or secondary home without putting down 20% or more

•      How PMI and mortgage interest stack together for your itemized total

•      At current home prices and a 6.5% mortgage rate, mortgage interest plus PMI can exceed the $32,200 standard deduction for married filing jointly

•      Why itemizing could be back on the table for more homeowners than it has been in years

•      The real case for PMI: keeping cash liquid and working rather than locked in home equity

Thinking about buying a home or figuring out the right down payment? That is a good conversation to have.

If you are a current homeowner in Lexington, Central Kentucky, or anywhere across the Bluegrass, or if you are thinking about buying and want to run the numbers on down payment, PMI, and what itemizing might look like for you, I would be glad and honored to sit down with you.