Mortgage tax credit
By Allstate
Last updated: January 1
This mortgage tax credit calculator helps you to determine how much you may be able to save in taxes. Determining factors may be, but are not limited to, loan amount and term, interest rate, federal and state tax rates, and property taxes. This calculator also calculates your after-tax interest rate on the loan. Tax savings on a mortgage loan increase at higher income tax rates. Mortgage interest is generally tax-deductible, reducing the after-tax interest rate.