Financial Information
Is Upfront Mortgage Insurance paid at a mortgage refinancing deductible from income taxes?
Question : Is Upfront Mortgage Insurance paid at a mortgage refinancing deductible from income taxes?
I am pretty sure it is deductible when you a buying a home; just want to know if it is deductible when refinancing as it will impact the earn back time of the refinancing costs.
mortgage refinancing
Best answer:
Answer by Bill
Mortgage Insurance isn’t deductible.
I provided a link below… and I think the answer is there. Not sure the deduction works for a re-fi. But if it does, pretty sure you would have to amortize it for the duration of the mortgage.