What can be deducted from home refinancing?

Answer Most people refinance their mortgages to take advantage of lower interest rates. The Internal Revenue Service (IRS) gives an added benefit of being able to take several tax deductions.PointsYou can... Read More »

Top Q&A For: What can be deducted from home refinancing

Can home repairs be deducted from taxes?

On One Hand: No Deductions for Home RepairsThe Internal Revenue Service does not allow you to deduct the cost of repairs that you make to the home you live in. However, if your repairs qualify as a... Read More »

Can home refinance costs be deducted from a federal income tax return?

The Internal Revenue Service states that if you itemize, you can deduct your closing points as interest, over the life of the loan. So, if you pay $2,000 in points and have a 30-year mortgage, you ... Read More »

How to Use a Home Loan Refinancing Calculator from iTrust?

There are many people who think why we need to refinance our existing home loan? There can be many reasons for it like lowering rate of interest, extending the tenure period or reduction in monthly... Read More »

What is refinancing a home?

Refinancing a home refers to taking out a new mortgage to pay off the old mortgage. When contemplating a refinance, you have to weigh the costs and benefits, and know how much longer you plan to ow... Read More »