Credit Sesame Daily

Browse Categories

Mortgage Tax Benefit: What’s the Real Value of Your Mortgage?

Your home is likely your biggest investment, so knowing exactly what you’re paying for it is just common sense. But when people map out the life of their mortgage and the total cost — even factoring the best mortgage rate, they often fail to consider the copious tax benefits they will receive. We take a look at three home-buyer scenarios to determine just how much they will receive in tax benefits over the life of their loan, and the total amount they will have paid when their loan is finally over. Also included is the cutoff point for each filing status for when the standard tax deduction becomes more than the itemized deduction.

Infographic: What's the Real Value of Your Mortgage?

Also, be sure to check out the Credit Sesame mortgage payment calculator and mortgage comparison calculator.

« Previous Post This Week in Money Management: What Would You Do For Money?
Next Post » 10 Killer Apps You Need for Your Finances

Related Blog Posts

Building Your Credit While Shopping for a Home? Here’s What You Need to Know
What It’s Really Like to Buy One of Those Cheap $6,500 Houses in Detroit
How Many Credit Reports and Scores Will My Lender Pull?
How to Improve Your Credit Scores Enough to Qualify for Rock-Bottom Mortgage Rates
The First Question of Home Ownership: How Much House Can I Afford?