Mortgages often come with built-in tax deductions that work in your favor every tax season. You can estimate what those savings will be based on the interest you pay on your mortgage and any points paid at closing.
Mortgage Tax Savings Calculator
Use the mortgage tax savings calculator to determine how much your mortgage payments could reduce your income taxes. The interest paid on a mortgage, along with any points paid at closing, are tax-deductible if you itemize on your tax return. Use this calculator to see how this deduction can create a significant tax savings.