Tax Benefits of Buying a Home

Loan Information Property Information
Home Value Filing Status
Loan Amount Tax Bracket
Interest Rate State Tax Rate (%)
Points Real Estate Taxes
Loan Term (Years) Medical and Dental
Month of Purchase Gifts & Charity
  Theft & Losses
  Job Expenses

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.
Mortgage Payment: $ 0.00 Standard Deduction: $4750
Loan Points: $ 0.00 Interest & Points: $ 0
Interest Paid: $ 0.00 Real Estate Taxes: $
 Other Deductions: $ 0.00
 Itemized Deductions: $ 0
 Additional Deductions: $ -4750
After Tax Payment: $ 0.00 Tax Benefit: $ 0.00