A blog post

Points on Refinancing

Posted on the 09 December, 2009 at 9:25 pm Written by in Taxes

Any points you paid to refinance your home can be deducted over the life of the new loan. So if you refinanced your mortgage on September 1, 2009 for a 15-year term, you can deduct a percentage of the points (4 out of 180 months) in 2009. The amount may not be huge, but every little bit helps.

Don’t forget the points on the old mortgage. The remaining unamortized points on the old mortgage are deducted in the year of you refinance