The simple answer is Yes. The more you borrow; the more interest you will pay in a given year; so the bigger deduction you will have off your taxes.
But like the others said; It does not make sense to borrow more just to get 25 cents on the dollar spent back in taxes.
Where a home equity loan helps is if you want to add a pool or redo a kitchen. Borrowing the money outright for a pool or a kitchen has no tax advantage and most times has higher interest because it is really unsecure. With a home equity loan it is guarantied by your house so lower interest plus tax advantage. On the other hand a home equity loan can put you so upside down in your house you better pray nothing happens before you can get the loan paid off; especially if it causes you to lose the house because you just had to have that pool.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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