Where do i enter a mortgage rate relock fee

[reefund]

I paid my mortgage company a fee of $495 to relock my interest rate for 5 years. Is this deductible and where on the return does it go?

[Marketstar · Accepted solution]

A mortgage rate lock fee is not deductible, but can be added to the cost basis of your home which may benefit you at the time of sale (the higher the cost basis, the lower your profit, the lower your tax bill).

Cost basis of your home would include price paid for your home plus improvements and the following expense paid at closing at the time of purchase:

• Attorney fees in connection with obtaining property
• Commissions
• State stamp taxes and transfer taxes
• Tax service fees
• Title policy fees or title insurance
• Miscellaneous abstracts of title, surveys, recording of deed

[ergin23]

What did you end up doing?

I have similar question. We paid %0.125 extra to relock at market rate. It's reported in the closing document as "Relock at Market Rate" but not as points. Should we calculate it as its origination charges/points?

[DaveF1006]

Yes, since there is no separate category for " mortgage relock fees" I would enter this origination/points paid.