I didn't receive a 1098. On closing statement, line A Origination Charges include broker compensation, commitment fee, and rate extension. Are these deductible as points?
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I didn't receive a 1098. On closing statement, line A Origination Charges include broker compensation, commitment fee, and rate extension. Are these deductible as points?
I didn't receive a 1098. On closing statement, line A Origination Charges include broker compensation, commitment fee, and rate extension. Are these deductible as points?
No - these additional fees are not considered deductible points. Instead you would add these additional closing fees to the basis in your house.
Points would such fees as maximum loan charges, loan discount, or discount points.