« WHAT IS THE CURRENT INTEREST RATE IN CALIFORNIA FOR A FHA LOAN?
If a realtor is selling a HUD house, is the list price a definite? »

Are the up-front mortgage insurance premiums on FHA loans tax deductible?

This up-front mortgage insurance premium (MIP) was rolled/financed into my loan.
And if they are tax deductible, do I deduct all of it on the tax year I closed on my home? Or do I have to spread out the deductions over the lifetime of the loan?
Also, please provide a reference with your answer. I've done plenty of online searches and there is an abundance of conflicting information.

Related FHA and HUD Posts

Tags: , , , , ,
Tags: , , , ,

This entry was posted on Monday, May 25th, 2009 at 9:50 am and is filed under FHA Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Top incoming search terms for this post

One Response to “Are the up-front mortgage insurance premiums on FHA loans tax deductible?”

  1. golferwhoworks says:
    May 25, 2009 at 9:50 am

    yes they are

Leave a Reply

Tags: abundance,  insurance,  lifetime,  mip,  mortgage insurance premium, 

Recent Posts:

Refinance to a Low Mortgage Rate in Spring, The Woodlands, Tomball, Conroe, and Houston, Texas
Down Payment Assistance – 99.5% Financing
FHA Manufactured Home Loan – FHA Manufactured Home Financing Is Possible!
Mortgage Rates: Banks Dishing out Higher Mortgage Rates for Bigger Profits – FreeRateUpdate.com
Home Loans and Your Credit Scores

Related results on Are the up-front mortgage insurance premiums on FHA loans tax deductible?

  1. Myths, Pros and Cons of Hecm Reverse Mortgages | InvestorView

    The value of your home and your age determine loan amounts. It's that simple. The money you receive from your reverse mortgage is tax free. The funds you receive can now be designed for your specific needs. ... Lenders generally charge their origination fees, FHA upfront mortgage insurance (MIP) and other closing costs that add up in a hurry. The flip-side to this, however, is that if you really need the funds from the equity in your home you could borrow the funds ...

  1. Backup Generators for your Home

    If you wish to save up some money, you could go for second-hand standby generator units as there are a lot of used diesel generators for standby or backup application that are still in good condition. By their very nature, ...

  1. Finally, People Are Calling For A REAL Housing-Market Fix: Letting ...

    So while high home prices are the inevitable result of policies like the mortgage interest deduction, really the root cause is that Americans believe home ownership is virtuous and desirable in and of itself and have long supported ... Housing gets to many tax subisidies and is overrated as an economic engine for gorwth. Housing has nearly bankrupted our country through the pknzi loans of fannie freddie and now the big fraud FHA. It is time to stop this BS and allow FREE ...