vers1146
New Member

Is a "lender origination fee" under "Total loan charges" deductible? It's not stated on my 1098 form; I did not receive a HUD-1 (only a mortgage closing statement).

 
KarenJ
Intuit Alumni

Deductions & credits

Yes, if the fees qualify for a deduction. In order to qualify as a deduction, your loan origination fees must be calculated as a percentage of your total loan amount and must be paid at the time of closing. Also, the loan itself must be backed by your personal property (i.e. your home is the collateral for the loan).

Once you have paid your loan origination fees, you should keep accurate documentation of the amount paid and ensure that you have all records needed to prove that your fees qualify as a deduction.