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 »

What can you write off closing costs when refinancing your home?

As of 2010, when you refinance your home, the Internal Revenue Service allows you to deduct a limited number of closing costs, similar to when you take out a mortgage. However, the amount and the t... 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 »