Refinancing Points
Bought a house? Awesome, you get to deduct the points paid to get the mortgage in one fell swoop.
But if you refinance, you have to deduct the points over the life of the loan. This may not mean much, why waste money? You can deduct 1/30th of the points each year for a 30-year mortgage. So, for every $1,000 you paid, you can deduct $33.
Those who use the refinanced loan to improve their houses could deduct points related to improvements right away, too!
