What counts as a mortgage for tax purposes?
I’m considering asking for a $50,000 loan from family to help me make a $100,000 down payment (in order to avoid PMI). This loan would accrue interest and I would make payments on it like any other loan… Could the interest be tax deductible?
If not, is there another way to go about this that would be effective?
The first link below defined a mortgage as “any obligation secured by real property.” So: if the loan is secured for the purpose of purchasing your home, if the home itself is the collateral on the loan, and if you are personally liable, then yes, the interest is deductible. There are no requirements that the loan be obtained from a lending instituation like a bank or mortgage broker.
Check the below IRS links for details. Good luck! 
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