refinancing: What is the Point? - 03/30/14 04:14 AM
Prepaid interest, sometimes called “points”, is generally tax deductible when a person pays them in connection with buying, building or improving their principal residence.  When points are paid on a refinance, they are not a current deduction but have to be taken prorata over the life of the mortgage.

For instance, if $3,000 in points were paid on refinancing a 30 year mortgage, a deduction of $100 per year is allowed.  When the loan is paid off or replaced by refinancing again or the home is sold and the mortgage paid off from the proceeds, the balance of any un-deducted … (0 comments)

 
Luci Edwards - Broker - ABR, GRI, CIPS, Results that Move You (Buy Me Now Realty, Inc)

Luci Edwards - Broker - ABR, GRI, CIPS

Results that Move You

Bozeman, MT

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Buy Me Now Realty, Inc

Address: 1820, W Lincoln St. Ste 2, Bozeman, MT, 59715

Office: (406) 551-9445

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I specialize my ability to give you genuine and personal service. Representing your best interest whether you are buying or selling property, I am committed to your needs and I'll quickly gain your confidence, because I have the job done.


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