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Xara
New Member

2016 refi. Lender 1 Loan/other costs/lender credits 3585.21. Lender 2 has 651.66 for interest received. Lender 3(last one) 2551.25 interest received. Is this deductible?

My refinance got moved a total of 3 times. I don't know what i a can deduct. The first one says closing cost borrower paid along with other costs borrower paid final toal 4644.00 anything from closing costs to insurance and taxes are in that. It got sold and they just sent something that has interest received from payer 651 then gets sold off again to last place where it has mortgage interest received from payers(s)borrower(s) 2551.25 and real estate taxes of 1353.88. i have not been able to understand if any or all of this is a deduction.

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2016 refi. Lender 1 Loan/other costs/lender credits 3585.21. Lender 2 has 651.66 for interest received. Lender 3(last one) 2551.25 interest received. Is this deductible?

The three items you can deduct on a refinance are mortgage interest, points, and real estate taxes.

On a closing statement you will see them in the following areas:

Lines 210 and 211 have county and city property tax info. This should be added to any other property tax paid during the year

Lines 801 and 802 are mortgage points.

Line 901 is daily mortgage interest

Line 902 is mortgage insurance premium

You should consult with your lenders to determine the amount you paid for mortgage interest, points and real estate taxes in 2017.

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3 Replies

2016 refi. Lender 1 Loan/other costs/lender credits 3585.21. Lender 2 has 651.66 for interest received. Lender 3(last one) 2551.25 interest received. Is this deductible?

The three items you can deduct on a refinance are mortgage interest, points, and real estate taxes.

On a closing statement you will see them in the following areas:

Lines 210 and 211 have county and city property tax info. This should be added to any other property tax paid during the year

Lines 801 and 802 are mortgage points.

Line 901 is daily mortgage interest

Line 902 is mortgage insurance premium

You should consult with your lenders to determine the amount you paid for mortgage interest, points and real estate taxes in 2017.

Xara
New Member

2016 refi. Lender 1 Loan/other costs/lender credits 3585.21. Lender 2 has 651.66 for interest received. Lender 3(last one) 2551.25 interest received. Is this deductible?

Thank you so much. That really helped!

2016 refi. Lender 1 Loan/other costs/lender credits 3585.21. Lender 2 has 651.66 for interest received. Lender 3(last one) 2551.25 interest received. Is this deductible?

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