Loan Tax Savings

If your loan interest is tax-deductible (mortgage, HELOC used for home improvements, student loans within limits), estimate the after-tax cost.

Loan

Loan amount ($)

Annual interest rate (%)

Term (years)

Marginal tax rate (%)

Results

Year 1 tax savings

—

Year 1 interest

—

Lifetime interest

—

Lifetime tax savings

—

Effective after-tax rate

—

After-tax lifetime cost

—

Assumes you itemize and the full interest amount is deductible. Standard deduction, SALT caps, or deduction phase-outs can reduce actual tax benefit. Consult a tax advisor.