Question regarding mortgage deposit To anyone who can help....
I am in the midst of buying a new home that was being built and was given a good offer very early in the building stages by a mortgage company that capped my interest rate for 1 year. The deal seemed good at the time and I took it giving a 1% deposit which I would lose if I decided to not close with them.
Well, I then got a better deal at closing from another company and had to ditch the last mortgage company/deal and the 1%.
What I was wondering about, is that lost 1% tax deductible? Doesn't it count as a "loss"
Any help appreciated. |