Finance & Tax
What closing costs can I deduct after buying a home?
Quick answer
Some closing costs are deductible and some are not. Mortgage interest and property taxes are typically deductible, while title insurance and appraisal fees generally are not.
The full answer
More detail, straight from Julian Cesar
Some closing costs are deductible and some are not. Mortgage interest and property taxes are typically deductible, while title insurance and appraisal fees generally are not. Points paid to lower your rate are usually deductible over the life of the loan. Keep your closing statement and let your tax preparer sort the line items.
Keep reading
More Finance & Tax questions
Do I have to pay capital gains tax when I sell my home?
Most homeowners do not. If you have lived in the home two of the past five years, you can exclude up to $250,000 of gain, or $500,000 for married couples filing jointly.
Read the answer Finance & TaxHow do property taxes work for a new buyer in California?
In California, your property tax base resets to the purchase price when you buy. The typical base rate is about 1 percent, plus voter-approved local bonds and assessments.
Read the answer Finance & TaxWhat is PMI and can I avoid it?
PMI, private mortgage insurance, protects the lender when you put down less than 20 percent. You avoid it with a 20 percent down payment or by choosing a lender-paid or piggyback structure.
Read the answerStill have a question?
Your situation has its own details. Ask Julian directly.
Every answer is free and pressure-free. Julian Cesar responds personally, by phone, email, or in person.
Julian Cesar
Licensed Agent, CA DRE #02015349