0
I don't think if it is on commercial property or not is an issue...and the answer is going to be yes! When you refinance a mortgage, all the costs of the mortgage you financed, including all those like points on origination that may have had to be amortized over the term of the loan, are accelerated and become deductible in that period. The key is the cost must be tied to the replaced mortgage, not the new one.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Is there a way to lower mortgage payment?
One of the best ways to reduce mortgage payments is to do a mortgage refinance as long as the new mortgage interest rate is at least two to three percent lower than the current rate and there is sufficient equity in the house. It's also important to a make sure there is no prepayment penalty on the existing loan. A prepayment penalty is a fee charged by the lender if a mortgage loan is refinanced before the prepayment expires
How soon after you purchase your home can you take out an equity loan?
First you would have to determine if you have a prepayment penalty on your current home. In case you dont know, you can find that out if you call your mortgage holder. If there is a prepayment penaly it would be best to wait the period out in order to avoid the hefty fee. If you do not have a PPP, or would like to pursue despite the fee, you can do so at any time. If you need help with your transcation feel free to contact me @ 214)607-1445.
What is a mortgage registration fee?
A State or Territory Government fee charged when a mortgage is established or discharged over your property.
What are the requirements for a no fee remortgage?
The requirements for a no-fee refinance mortgage are being in good standing with your current mortgage, having sufficient income, and having a good debt-to-income ratio. The requirements for a no-fee refinance mortgage are essentially the same as for any other type of mortgage.
What is corp adv fee?
These are any costs that a mortgage company has incurred in the collection or servicing of a mortgage. An example of a corporate advance fee would be if the second mortgage company makes a payment to the first mortgage company.
What is a Yield Maintenance Fee?
A fee paid by a mortgage holder as a prepayment premium in order to attain the same yield they would have if they had paid all payments to maturity.
Is there a way to lower mortgage payment?
One of the best ways to reduce mortgage payments is to do a mortgage refinance as long as the new mortgage interest rate is at least two to three percent lower than the current rate and there is sufficient equity in the house. It's also important to a make sure there is no prepayment penalty on the existing loan. A prepayment penalty is a fee charged by the lender if a mortgage loan is refinanced before the prepayment expires
How soon after you purchase your home can you take out an equity loan?
First you would have to determine if you have a prepayment penalty on your current home. In case you dont know, you can find that out if you call your mortgage holder. If there is a prepayment penaly it would be best to wait the period out in order to avoid the hefty fee. If you do not have a PPP, or would like to pursue despite the fee, you can do so at any time. If you need help with your transcation feel free to contact me @ 214)607-1445.
What do you deduct in Nebraska the motor vehicle tax or the registration fee?
In Nebraska, one would deduct the vehicle registration fees. You will deduct the fees based on the value of the vehicle.
What is a mortgage registration fee?
A State or Territory Government fee charged when a mortgage is established or discharged over your property.
Where do you pay discharge of mortgage fee?
If the mortgage has been paid and you receive a discharge from the mortgage holder, it must be recorded in the place where deeds are recorded and the filing fee paid there.
What are the requirements for a no fee remortgage?
The requirements for a no-fee refinance mortgage are being in good standing with your current mortgage, having sufficient income, and having a good debt-to-income ratio. The requirements for a no-fee refinance mortgage are essentially the same as for any other type of mortgage.
What is corp adv fee?
These are any costs that a mortgage company has incurred in the collection or servicing of a mortgage. An example of a corporate advance fee would be if the second mortgage company makes a payment to the first mortgage company.
What companies offer a no fee mortgage refinance?
There are many companies that claim to offer a no fee mortgage refinance. Such services are never free, it always costs something to refinance one's mortgage.
Where can one find no fee mortgage services?
You can find no fee mortgage services at the Total Mortgage website. Once on the page, scroll to the bottom and click on "Total Path," then click on "No Point No Feed Mortgage" in the navigation menu to bring up the information.
Is it legal to collect a finders fee from a mortgage broker?
Yes, you can collect a finders fee from a mortgage broker. Gifts and money are exchanged in this situation all the time.
How much is a mortgage closing cost?
A mortgage closing cost may include any or all of the following: discount and origination points, the application fee, appraisal fee, credit report fee, title search and title insurance, and a survey fee.
