Bonus of up to 760 euros for those who pay their home mortgage

Bonus of up to 760 euros for those who pay the mortgage.
What is it and who is entitled to this sum which you can receive as a refund if you bear the burden of a mortgage taken out to purchase the house in which you live and reside.
Let's see in which cases the bonus in question is due, given that it is not recognized to all those who have signed a mortgage contract and that the latter must have certain characteristics.
Bonus of up to 760 euros for those who pay the mortgage.
The bonus for those who pay the mortgage is linked to tax deductions.
The legislation, in fact, provides for deductions on the interest on the mortgage loan taken out for the purchase of the home.
Let's see what it means, the limits set and who can benefit from it.
A necessary condition for having an Irpef refund of up to 760 euros is that the loan is guaranteed by a real estate mortgage (mortgage loan) and signed no more than 12 months before the purchase of the property used as collateral.
You can, therefore, buy the property first and stipulate the relevant mortgage contract within 12 months or, on the contrary, stipulate the mortgage contract by purchasing the property in the following 12 months.
Another essential condition to be entitled to the bonus is that within 12 months of purchase the buyer uses the property as a main residence for himself or his family.
Without this destination the benefit is not recognized.
As mentioned above, mortgage interest can be deducted, but what does this mean? read also Model 730/2024, instructions, deadlines and news of the declaration.
What is the interest expense that gives entitlement to the bonus? When we talk about mortgage interest we are talking about the interest that the borrower owes to the bank in exchange for providing the money.
In other words, it is the cost incurred to use the money received.
The part of interest that can be deducted is that paid annually to the bank with the payment of installments.
This amount of interest, in any case, can only be deducted up to the maximum annual limit of 4,000 euros, a sum which gives the right to the maximum bonus of 760 euros (obviously if the amount of interest paid is less than 4,000 euros, even the amount of the deduction due is lower).
One thing that perhaps not everyone knows is that the deduction of interest expense is proportional to the cost incurred for the purchase of the property.
If the mortgage has an amount greater than that incurred for the purchase of the home, the benefit is limited to the amount of the sum spent for the purchase (which can be consulted on the purchase deed or deed).
How do I keep and lose the bonus? The legislation provides that the deduction on mortgage interest is due to the person who is the owner of the property, holder of the mortgage contract and resident in the home.
If you change your residence after having started to benefit from the deduction, the latter ceases to exist unless: the residence has not been moved for work or hospitalization reasons and the property has not been rented; that you move your residence to leave a family member (a child or spouse) who belonged to the family unit in the home.
These are important clarifications because, for example, the parent who is separated and no longer resident in the property that the family unit had used as the main residence, even in the absence of residence in the property, can continue to benefit from the deduction for the interest paid by the mortgage because some family member has maintained residence in the home.
read also First home bonus 2024: how does the purchase work? Guide to requirements and benefits