Tax Benefits of Owning Real Estate

Mortgage Calculator

This calculator estimates the tax benefit of buying a home. Input your loan parameters and the month you purchased the home. Since home interest and points are captured in itemized deductions, please estimate your Schedule A itemized deductions. Your itemized deductions including your mortgage deductions will be compared to your standard deduction to calculate the tax benefit of purchasing your home.

Loan Information

Tax Information

Tax Benefits Mortgage Calculator

Mortgage Calculator Results:

$504.91 Tax Benefit of Buying

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Today's Average 3.74%
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  • Mortgage Payment $1,342.05
  • Refinance Payment $0.00
  • Loan Points $0.00
  • Interest Paid $5,729.17
  • After Tax Payment $1,241.07
  • Standard Deduction $7,100.00
  • Interest & Points $5,729.17
  • Real Estate Taxes $5,000.00
  • Other Deduction $1,800.00
  • Itemized Deductions $12,529.17
  • Additional Deductions $5,429.17
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Product Disclaimers and Sourcing

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details. CA Bur. of Real Estate, Lic. #01937608.

Estimate the tax benefits of buying a home

This calculator estimates the tax benefit of buying a home. Input your loan parameters and the month your purchased the home. Since home interest and points are captured in itemized deductions, please estimate your Schedule A itemized deductions. Your itemized deductions including your mortgage deductions will be compared to your standard deduction to calculate the tax benefit of purchasing your home. Unless stated otherwise, all fields above are on an annual basis. Any fields you leave blank will be assumed zero.