Are a home equity loan and a heloc both tax deductible?Are both tax deductible if used for home improvements? I plan to pay off my mortgage and then take out a home equity loan for major improvements such as a new furnace, kitchen appliances, a new driveway, etc. Does this sound feasible?October 14 2013 - Columbus00YesReport 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.