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    You have to pay the interest to be able to deduct the interest..... if you can avoid paying the interest that would be more valuable than the tax break on the interest. Commented Dec 10, 2016 at 1:09
  • Note: With the new tax laws passed around late 2017/early 2018, for many people, especially married couples with smaller mortgages, the tax deduction will be worth little or nothing. With state and local tax deductions capped at $10K, and a standard deduction of $24K for married couples, and few remaining itemized deductions, you'd have to pay $14K in combined mortgage interest and charitable contributions before deducting would save you anything (and it would only save you money on the amount above $14K). If you're putting 50% down, the odds of the interest reaching that level is low. Commented Jul 22, 2019 at 20:01