Loan Amount Points - Form 1098 vs Settlement Statement

[socaljulia]

I took out a loan to purchase my main residence.  The Master Settlement Statement shows "6% of Loan Amount (Points)" of $35,519.40, but form 1098 box 6 shows ~$3,465 points paid on purchase of principal residence.  Why is there a difference?  Do I deduct the full $35.5K? 

[KrisD15]

How much was the loan? 

[socaljulia]

$591,990

[KrisD15]

Yes, enter 35,519.40.

You might want to check with the Title Company that handled the closing, but if that was paid at closing, you can claim those points paid if you purchased the home in 2024. I assume the loan went from Mortgage Broker to Lender and the original Mortgage Broker kept part of the points. 

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