Financing a Rental Property with a new Mortgage on Primary Home?

[Wesley Cook]

Hello Real Estate GENIUS'!  I bought a rental property with a cash deal last year, but only because I took out a new mortgage on my paid-off Primary residence.  I did this because the closing costs for refinancing my home was much less than if I did a new mortgage on the rental house.  

My question is this: I am doing my taxes and want to deduct the mortgage interests that I paid on my home that I used to finance the rental.  I charge $1250 rent per month, but my mortgage payment on my home is about $850 per month.  Right now, my tax software thinks I made $15,000 profit this year, but instead I really only made $5,650 after principal and interests.   Can I deduct the financing method I used to buy this house (refinancing my primary home) when doing my taxes?   

Thanks Everyone!