Kansas Mortgage tax savings
This is where homebuyers can really make a difference. As a homeowner you can deduct from your yearly federal tax returns points paid, interest paid, and also the amount paid towards property taxes. How you deduct points paid depends on the type of mortgage. When refinancing you deduct a little each year throughout the loan term. Points on new mortgages are deductible the same year they are paid. The same is true for property taxes and interest paid on the mortgage.
