AMT and fifteen year mortgages.I find myself limited in my ability to refinance anything close to the value of my property and to continue to deduct the interest. I had taken out a loan for $225K for 15 years, and now it is paid down to about $126K. If I borrow $225K, I can continue to deduct the interest on Schedule A, as it is not more than 100K over the existing loan, but I cannot deduct interest on the amount above 126K on AMT. No one talks about that when discussing the advantages of 15 year versus 30 year mortgages.April 28 2010 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.