No, points are not the same as origination points. Origination points are not deductible on non-rental property.
In real estate, a point is an amount equal to 1% of the mortgage. A point on a $120,000 mortgage is worth $1,200, 2 points are worth $2,400 and so on.
- Origination points are charged by lenders to cover loan processing costs. Sometimes they'll also include fees for appraisals, inspections, title, attorneys, notaries, and real estate taxes.
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