Question

Loan Amount Points - Form 1098 vs Settlement Statement

Forum|Forum|1 year ago
March 29, 2025
1 reply
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I took out a loan to purchase my main residence. The Master Settlement Statement shows "6% of Loan Amount (Points)" of $35,519.40, but form 1098 box 6 shows ~$3,465 points paid on purchase of principal residence. Why is there a difference? Do I deduct the full $35.5K?

KrisD15

How much was the loan?

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S

socaljuliaAuthor

$591,990

KrisD15

Yes, enter 35,519.40.

You might want to check with the Title Company that handled the closing, but if that was paid at closing, you can claim those points paid if you purchased the home in 2024. I assume the loan went from Mortgage Broker to Lender and the original Mortgage Broker kept part of the points.

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