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