The Under 40 Financial Planning Guide: Home Equity Loans

Because interest on your credit cards or personal loans is no longer deductible, you may want to borrow money on a home equity loan. The interest on these loans is still deductible, as long as you spend the money you borrow on your home. Even if you don't spend the money on your home, you can borrow up to $100,000 for any purpose and still deduct the interest.