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Deductions & credits
Origination fees can be deducted as points if they are a percentage of the loan amount (not a percentage of the sales price and not a flat fee) and if they are not allocated to any specific purpose, such as document processing, appraisal, survey, or anything else.)
For example, my mortgage had a $500 application fee. That was not deductible points because it was not a percentage of the mortgage amount.
May 31, 2019
6:57 PM