I don't understand this question, Is this loan a home equity line of credit or a loan you've ever refinanced?

Forum|Forum|6 years ago
March 28, 2020
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TurboTax Deluxe Online

KrisD15

Level 15

If this is the loan you took out to purchase the house, it is only an original loan, even if it changed lenders (was sold to a different bank).

In this case the answer is No.

If you took out a loan, and then you went to the bank and "Refinanced" (ended the first loan and took out a different loan OR kept the loan but pulled out cash), making the loan larger) then you would answer Yes.

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salvation5050Author

Level 2

Thank you for your response! I was not comfortable doing my own income tax return. I have given it to a professional to do it for me.
Thank you again!
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Yolanda