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The $200k will only be deductible if it is associated with the purchase of the property. If you had a LOC type loan where you pay wages into it weekly (repayments) and withdraw money for groceries weekly (new loans) then perhaps none of the interest would be associated with the property and...

Any deposit into a loan is a repayment of that loan. Any withdrawal is new borrowings.

You are essentially asking can you borrow $200k for an private expense and claim the interest = No.