Orig fees & points on HUD

[AZ-Tax]

Ok, Ln 301 says "Our Orig charge includes Orig pts" $745
Ln 302 says "Your credit or charge(pts) for the specific interest rate chosen" $2960
Ln 303 says "You adj orig charge to Wells Fargo" $3705.

Now, on form 1098 from Wells Fargo, $2960 is the reported points. $745 +$2960 = $3705.

So, is the $745 amortized or pts "not on form 1098"?

[Gary2]

Most likely the points are just the $2960. Check to see if that's a simple percentage of the total loan (possibly 1.5%, so it wouldn't be obvious on first glance).

Usually the choice can't be between amortizing or taking as points not on the 1098. If it's a main home, the $745 wouldn't be amortized at all. If it's a rental, both would have to be amortized (though as someone else pointed out recently, it's a good idea to amortize them separately).

I suppose that if it's part home, part rental, then you may have some of both.