Solved

Can "Administration Fees" listed under "Origination Charges" on a non-rental home loan closing disclosure document be entered under "Points" for deductions? Not on 1098.

Forum|Forum|4 years ago
February 6, 2022
1 reply
0 views

-VA Loan.
-My lender did no charge Origination Points.
-Instead they charged an Administration Fee right below the blank Origination Points section.

TurboTax Premier Online

Best answer by ColeenD3

No. Fees for administrative costs are not the same as points. Points are related to the mortgage.

In real estate, a point is an amount equal to 1% of the mortgage. A point on a $120,000 mortgage is worth $1,200, two points are worth $2,400 and so on.

ColeenD3Answer

No. Fees for administrative costs are not the same as points. Points are related to the mortgage.

In real estate, a point is an amount equal to 1% of the mortgage. A point on a $120,000 mortgage is worth $1,200, two points are worth $2,400 and so on.