Mortgage Tax Savings Calculator
See your estimated year-one tax savings from the mortgage interest and SALT deductions.
Estimated year-one tax savings
$355
Mortgage interest (Y1)
$25,480
Itemized total
$31,480
Standard deduction
$30,000
Best strategy
Itemize
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This is an estimate for educational purposes only. Not a commitment to lend.
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Frequently asked questions
Do I actually benefit from the mortgage interest deduction?
Only if your itemized deductions (mortgage interest + SALT + charity, etc.) exceed the standard deduction. Many homeowners take the standard deduction instead.
What is the SALT cap?
State and local taxes, including property tax, are capped at $10,000 combined on your federal return.
Is this tax advice?
No. This is a rough estimate for educational purposes only. Consult a CPA for advice specific to your situation.