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Can I deduct the closing costs from a new HELOC loan secured by my primary residence?

 
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Can I deduct the closing costs from a new HELOC loan secured by my primary residence?

The following are deductible when closing a loan.

·       Daily mortgage interest from the day you closed to the end of the month. 

·       Real estate taxes charged to you

·       Points (sometimes called origination fees and expressed as a percentage of the amount 

       borrowed

·       Mortgage insurance, if paid


Non-Deductible closing Costs

·         Attorney fees in connection with obtaining property

·         Real estate commissions

·         State stamp taxes and transfer taxes

·         Tax service fees

·         Title policy fees or title insurance

·         Miscellaneous abstracts of title, surveys, recording of deed

·         Appraisal Costs


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