Origination Fees on new purchase vs. refi

[AZ-Tax]

As I recall, Org fee/charge for new house purchase for borrower is fully deductible on Sch A the tax year the borrower paid out of his or her settlement proceeds AND TP has to amortize Org fee/charge on a refi, correct?

[Matt Sova]

Points

The points paid on the original purchase are deducted on Schedule A the year the purchase is made. If it is a refi then the points are amortized over the life of the new mortgage. If there are unamortized points from a previous refi, they can be written off at the time of a new refi if the new refi is with a different lender.

[Burke]

As I recall, Org fee/charge for new house purchase for borrower is fully deductible on Sch A the tax year the borrower paid out of his or her settlement proceeds AND TP has to amortize Org fee/charge on a refi, correct?

Origination fees can be other charges than points. It may be a fee from the lender to make the loan. Is it a flat amount or a percentage of the mortgage? Make sure it is actually points, then fully deductible on purchase (if buyer contributes enough cash to cover) and amortizable on a refi.