GETTING TO POINT(S)

By
Real Estate Agent with RE/MAX Premier

If you have recently purchased a home, don't overlook the tax break available for the points paid to get a home loan.  Each "point" is one percent of the loan amount. Lenders charge points a means of generating a profit, and borrowers generally pay points in exchange for lower mortgage rates.  On a conventional mortgage(usually a fixed rate, 30 year loan that is not insured by a federal agency, points may be paid by the buyer, the seller or split between them.  Even if the seller pays the points, the buyer gets the deduction. Loan points are fully deductible in the year paid if the meet a set of requirements, which apply to loan costs associated with a primary residence.

Prepared by:

Maria Lourdes Couto,ABR,CRS,SRES
RE/MAX Classic Group
908-376-1568
http://www.berkeleyheightsandbeyond.com/
Homes@marialcouto.com

Serving: Berkeley Heights, New Providence, Scotch Plains, Summit, WestfieldLong Hill Township, Madison, Basking Ridge, Bedminster, Warren, Watchung.

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Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

A REALTOR who gives useful advice!  Maria, this is a useful post.  I heard that you and your family are coming to Tucson soon for a visit.  Shoot me an email through Active Rain, and I'll get you all the info you want.

Mike in Tucson

Nov 02, 2007 12:14 PM #1
Rainer
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Sean Carroll
The Get Off Your A$$ Academy - Manhattan, NY
Real Estate Speaker and "Expert" Coach
great advice maria. Just another benefit to buying!
Nov 02, 2007 06:39 PM #2
Rainmaker
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Maria Couto
RE/MAX Premier - Berkeley Heights, NJ
Realtor with "Results That "MOVE" You'

Thank you Mike. I'm leaving next week with my family and were looking forward to it I will definitely reach out through e-mail.

Thanks Sean. I always appreciate your comments.

Nov 02, 2007 06:43 PM #3
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Rainmaker
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Maria Couto

Realtor with "Results That "MOVE" You'
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