Are refinancing costs tax deductible?

Answer Some refinancing costs are tax deductible while others are not. Any discount points paid on a mortgage debt can be deducted from a borrower's taxes. Additional fees that can be deducted include pre... Read More »

Top Q&A For: Are refinancing costs tax deductible

How to Deduct Refinancing Costs?

Refinancing a mortgage can save you money by locking in a lower interest rate so you will save money on your monthly mortgage payments. In addition, the costs you pay for discount points can save y... Read More »

Tips on Refinancing With Low Closing Costs?

According to the Federal Reserve, the average home mortgage refinance costs a borrower between 3 and 6 percent of the loan amount. This can add up quickly and eat up precious home equity, if the cl... Read More »

Is refinancing a house tax deductible?

You can deduct the cost of discount points paid on a mortgage refinance over the life of the refinance. For example, if you pay $3,300 in points on a refinance that will take 10 years to repay, you... Read More »

Are Home Refinancing Fees Deductible?

When you refinance your home you normally have to pay refinance fees to cover the cost of processing the loan and pay fees to secure a low rate. The Internal Revenue Service does allow you to deduc... Read More »