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amar_r
March 14, 2025
Question

can we deduct following fees?A. Origination Charges $3,260.0001 % of Loan Amount (Points) $002 Administration Fee $1,295.00

  • March 14, 2025
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    1 reply

    VictoriaD75
    VictoriaD75
    March 14, 2025

    Points paid on a mortgage for a purchase or improvement of a personal residence are deducted in the year they are paid. Points paid to refinance a mortgage must be capitalized and spread over the life of the loan. Loan origination fees, appraisal fees, and other settlement fees are not deductible.

     

    @amar_r 

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