The best and ONLY person to answer this question is your tax professional. I strongly recommend my First Time Buyer clients immediately seek out the advice of a competent and experienced tax professional. Buying a home changes your life financially in such a dramatic way that it's important to have a good team of professionals---Tax Pro, Financial Advisor and Attorney---to rely on when you have questions about your new life as a Homeowner.
In general the IRS allows a Homeowner to deduct all the interest on a mortgage loan for a primary residence on Schedule A (Itemized Deductions) of your Federal 1040 tax return form. Consult with your tax professional to see if you qualify to deduct the interest on your tax returns.