| These points would not be immediately deductible, instead they are deducted over the term of the new loan.
The IRS used to allow for a complete deduction, but the changed the law I think sometime in the early 90's. This deduction is not allowed for points that are added to the new loan outstanding.
Had you paid for the points out of your own funds with a check, separate from your loan transaction, then the points would have been deductible on your schedule A to the full extent of the points paid. | 
