You can write off some of the closing costs depending on how your loan is structured. You should consult a CPA for additional information on what you can and cannot write off. Not sure if that answers your question or not.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
firstname.lastname@example.org | http://www.AustinListed.com
What tax credit are you thinking about? If you asking about whether or not you can claim as deductions on your 2012 tax return, the 2012 interest on your loan, and the 2012 taxes you pay against the house, the answer is "yes you can if the property os your homestead". If the property is rental property you should ask your accountant.