AMT and mortgage property interest

[Sam Dal]

Guys - this may not be a typical question found here. I'm about to buy my first single family house (just to live, no investing or renting out). One of the reasons is to avail of the mortgage interest deduction
However, me and my partner are also close to hitting the 328,000 joint filer phase-out exemption limit. I'm guessing you cannot take any exemptions if you cross that amount. Can anybody validate this? I don't see any benefit of the mortg interest deduction because AMT will account it as income when calculating the taxes anyways

Thanks