BUY WITH A PLAN

Mortgage tax savings calculator

Could mortgage interest help at tax time? Walk through a simple federal estimate and see what to confirm with your tax professional.

2026 FEDERAL TAX ILLUSTRATION

A possible tax benefit is one part of the picture. Use this to get comfortable with how mortgage interest may affect your taxes. Start with a monthly payment you can afford before any tax benefit.

Example numbers are filled in. Change them to explore your plan.

1Your home loan

Mortgage amount ($)The amount you borrow, after your down payment.Interest rate (%)Illustrative fixed rate. Use your own assumption.

Starts with a 30 year loan and the first 12 monthly payments.

2Your tax picture

How do you file?Federal tax bracketUse your marginal bracket, not the percentage withheld from your paycheck. If unsure, choose “I’m not sure yet.”

Optional: refine the assumptions

Leave these at 0 if you do not know them. Other deductions can change whether itemizing helps.

Allowed state and local tax deduction ($/year)Use the amount your tax professional says you can deduct after all limits, including any income phaseout. This can include eligible property and state income or sales taxes. Do not enter the total you paid unless it is fully deductible.Loan term (years)Whole years. The result still covers 12 payments.Additional standard deduction ($)Only an additional standard deduction confirmed for age or blindness. Do not include the separate senior deduction.

Free to explore. Your tax inputs stay in this browser and are not attached to a contact request.

3 SEE WHAT MAY CHANGE

Would mortgage interest help your tax picture?

The IRS lets you use a standard deduction or eligible itemized deductions. This tool checks whether adding mortgage interest gives you a larger deduction.

Estimate 12 months of interest.
Compare it with your standard deduction.
Apply your bracket to the additional deduction.

A deduction is not a dollar for dollar refund.

It reduces taxable income. Your actual tax benefit depends on your return.

Comfort first. Tax benefit second.

Eric can help you compare mortgage payments and cash needed. A qualified tax professional can confirm what applies to your return.

Check my full monthly payment

A starting point, not tax advice.

I’m not a tax advisor. This educational tool helps you get comfortable with the concept. Have a qualified tax professional confirm your eligibility and actual benefit before using it in your budget or tax return.

What this simple estimate includes

One new, fixed rate purchase loan secured by a qualified home you own, with no other mortgage debt, 12 regular monthly payments and 2026 federal rules. The mortgage interest limit is $750,000 for the supported filing statuses. A partial calendar year will differ.

The standard deduction assumes you are not a dependent and have no additional age or blindness allowance unless you enter one. State and local taxes must already reflect applicable limits. The result isolates mortgage interest; it does not estimate the total tax benefit of owning a home.

The bracket is applied as a flat estimate, so the actual benefit may be lower if deductions cross into a lower bracket or you have limited tax liability. Charitable deductions and their effect on itemizing, AMT, mortgage insurance, points, tax credits, state tax savings, rental property, older mortgages and other special rules are not modeled. Married filing separately and the 37% bracket require a tax professional’s calculation.

Sources checked October 8, 2026: IRS 2026 standard deductions, IRS mortgage interest rules and when to itemize.

YOUR NEXT STEP

See the example. Make a plan for you.

Which numbers fit your life? Eric can help you look at the payment, the cash you keep and what could change next.

1Explore an example
2Choose what to share
3Plan a Discovery Call

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A conversation about your numbers.

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Prefer to choose a time? Book a Discovery Call. You can also call Eric at 630 728 7918.