google bot detected Tax Deductibility Of Interest And Points | Mortgage Glossary |

Tax Deductibility Of Interest And Points

Definition of "Tax Deductibility (of Interest and Points)"

Honesty Howard
  Carter Company Realtors

The provision of the U.S. tax code that allows
homeowners to deduct mortgage interest payments from income before computing taxes. Points and
origination fees are also deductible, but not lender fees expressed in dollars or any other
settlement costs. Interest deductibility is politically untouchable in the U.S., although it is often
criticized by economists and is found in few other countries. Interest deductibility enters a number
of decisions made by homeowners or purchasers, sometimes when it shouldn't.

Related Real Estate Glossary terms

Related Real Estate FAQ