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If you don’t itemize your deductions within the 12 months you get the loan, you’ll be able to spread the points over the lifetime of the loan and deduct the appropriate amount in every future year, if any, if you do itemize your deductions. The funds you offered at or before closing, plus any points the vendor paid, have been no less than as much because the points charged. The funds you provided aren’t required to have been applied to the points. They can embrace a down cost, an escrow deposit, earnest cash, and other funds you paid at or earlier than closing for any function.
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