@fanfare wrote:
On your first mortgage, you don't have an option.
you have to itemize points over the term of the mortgage.
No, it's the opposite. On the mortgage you used to buy the home, you may have the option to deduct the points all at once, depending on certain factors. If you don't qualify, then you amortize the points. On any refinance, you can only amortize (with or without rolling the remaining prior points into the new amortization, again, based on certain factors.)
