Three closing costs are tax-deductible in the year of the sale: loan points (one point equals 1 percent of your loan amount), prorated mortgage interest and prorated property taxes. After that, your mortgage interest and annual property taxes are the only deductible costs.
Send a comment or news tip to our newsroom.
Please include the headline of the story.
You have {{data.cm.viewsLeft}} articles left this month.
This content is available to Inman Select subscribers.
Please select an option below.
Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
You have used all of your free pageviews.
Please subscribe to access more content.
Access denied!