According to IRS Publication 936 (2013)
You can deduct home mortgage interest if all the following conditions are met.
- You file Form 1040 and itemize deductions on Schedule A (Form 1040).
- The mortgage is a secured debt on a qualified home in which you have an ownership interest. Secured Debt and Qualified Home are explained later.
View the entire publication here: http://www.irs.gov/publications/p936/ar02.html