Joint Mortgage/FBAR questions for US taxes

My British husband and I have a joint mortgage together for our first house, which we bought in June 2017. After reading a few posts, I see that many people have said it's best to have had my British husband be the sole owner because of tax reasons.  However, we thought it would be a good piece of document for extending my FLR(M) and ILR in the future.

Obviously I'm concerned now, as it is in both of our names. (Well, my mortgage is actually in my married name. My US taxes are still having to be done in my maiden name as my passport and BRP are in my maiden name).

Where in my taxes do I fill in information about the mortgage? I am also so beyond confused with capital gains. Can anyone please explain what I should be doing?

Should I be filling out an FBAR because of my mortgage as well?

I probably should be finding a tax professional for help, as I normally use a family friends from back home to file my taxes. They don't seem as straightforward this year because of the mortgage. I'm feeling concerned and quite overwhelmed. Please help!

Not an expert here but while we had a UK mortgage we did not report it on our US tax return nor try to claim the interest paid as part of itemized deductions.

I don't believe mortgage debt is reportable on an FBAR. However, if you have a mortgage offset loan then I think that would be reportable.

https://en.wikipedia.org/wiki/Offset_loan_(finance)

An offset loan is a type of lending arrangement, usually for a mortgage, in which a borrower also maintains a savings account with the lender. Instead of receiving interest on the savings account, the interest payment due on the loan is calculated only on the net balance of the loan less the savings account.

Capital gains are only reported on a tax return when the gain is "realized", after the sale of a capital asset such as stocks, or a house.

Not sure if the new US tax law has changed on mortgage interest but it use to be the case you could deduct your UK interest on a loan up to a certain loan limit. It use to be $1 million / $100,000 equity loan.

Owning a home in the UK becomes a tie factor to the UK.

Capital gains are only reported on a tax return when the gain is "realized", after the sale of a capital asset such as stocks, or a house.

Thanks for that. Most people I have spoken to said I don't need to worry until we actually sell, which won't be for some time. I suppose I need to do a bit more research on that so I am aware of what's to come.

Thanks again for your reply and advice.

Not sure if the new US tax law has changed on mortgage interest but it use to be the case you could deduct your UK interest on a loan up to a certain loan limit. It use to be $1 million / $100,000 equity loan.

Owning a home in the UK becomes a tie factor to the UK.

I think this is still the case, but for 2018 may now only be up to $500k. However the 2018 standard deduction is now $12k for individuals and $24k for married filing jointly.