How much will my mortgage save me in taxes?
Homeownership has many benefits, even when it comes to your taxes. You can reduce your taxable income by the amount of money you've paid in mortgage interest during the year. Specifically, you can deduct interest on the first $750,000 of your mortgage. See how much your mortgage might save you over time with this calculator.
While this calculator can help you understand your potential tax savings, all numbers provided here are estimates. Please talk to a Mortgage Loan Officer about what your actual savings may be.
This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.