Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Kentucky First Time Home buyer Down Payment Assist...

Louisville Kentucky Mortgage Lender for FHA, VA, KHC, USDA and Rural Housing Kentucky Mortgages: Kentucky First Time Home buyer Down Payment Assist...: KHC is increasing the down payment assistance program amount from $6,000 to $7,500. This is for both Regular Down Payment and for Affordabl... Kentucky First Time Home buyer Down Payment Assistance for $7,500 KHC is increasing the down payment assistance program amount from $6,000 to $7,500. This is for both Regular Down Payment and for Affordable Down Payment assistance programs

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Are Mortgage Points Tax Deductible? What are closing costs and prepaids on a mortgage loan?

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Posted: 21 Mar 2017 02:36 PM PDT Are Mortgage Points Tax Deductible? By: Dona DeZube Published: August 15, 2016 When you took out a mortgage to buy your home, did you pay points? You may be able to deduct that prepaid interest on your federal tax return -- but only if you meet a long list of rules. The points you paid when you signed a mortgage to buy your home may help cut your federal tax bill. With points, sometimes called loan origination points or discount points, you make an upfront payment to get a particular rate from the lender. Since mortgage interest is deductible, your points may be, too. If you itemize your deductions on Schedule A of IRS Form 1040, you may be able to deduct all your points in the year you pay them. Some high-income taxpayers have their total itemized deductions limited, including points. You can read more about that in the instructions for Schedule A. Lucky for you, the IRS doesn’t care whether you or the homesellers paid the points. Either way...
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