Should the calculation be ((first + last)/2) times months/12?
I am in the same case:
I had a mortgage balance average of ~ 254K per month until May 2022 (sold that house in May) - this mortgage was started in 2005
I bought a new house in April 2022 and had a mortgage averageof ~764K per month from April 2022 - this mortgage had points
overall:
so in Jan-March: 254K per month balance
April and May: 1018K per month
Jun-Dec: 764K per month
is this correct:
mortgage 1 average for the year (254*5)/12 = 63.5K
mortgage 2 average for the year (764*9)/12 = 573K
total average to report: 63.5+573 = 636.5 which is under 750 and result in 100% deduction?
Thanks
