Mortgage Tax Savings

Estimate the tax savings from deducting mortgage interest over the life of a loan.

Loan amount ($)

Interest rate (%)

Term (years)

Marginal tax rate (%)

Total tax savings over loan

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First-year interest

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First-year tax savings

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Total interest over loan

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Monthly payment

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Assumes you itemize and the loan is within the deductible limit. Early years carry more interest than late years.