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Well I've heard there's talk of removing HOME mortgage interest as a deduction too. I believe it cannot be called Washington Leadership, since that is now considered oxymoronic, like Military Intelligence, LOL, but in the meantime the RV interest is deductible as a second home. Back in 2006 we started with financing (I think it had a 12 year term) to get a lower purchase price bonus, then paid it off ASAP since we were already financing our retirement home and we get plenty of deduction off that. Come to think of it, I recall I never did deduct those first couple of payments of interest, oh well. That's why I was unsure. I do recall it wouldn't be considered home-deductible unless it had a working bathroom in it, like an RV, Boat or other so equipped living quarter. No bathroom, no deduction.
Oops, I'm getting off-topic discussing tax-deductability versus the OP's question about financing. Good luck on the financing, I don't recall our exact terms because it was only done to lower the purchase price and we had all intentions of paying it off.
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