Mortgage interest tax deduction calculator
Estimate mortgage interest for a tax year, apply the federal acquisition-debt limit, and compare itemized deductions with the standard deduction for your filing status and state.
Inputs
Mortgage interest deduction estimate
Estimate calendar-year mortgage interest, the federal acquisition debt limit, and the tax value above the standard deduction.
Advanced tax assumptionsAdd itemized deductions or edit tax-rate assumptions.+-
Leave itemized deductions at zero to estimate the mortgage interest deduction against the standard deduction alone. Add property-attributable SALT or other itemized deductions only if you want to model an itemizing scenario.
State rules vary. The state standard deduction and marginal rate are editable so you can match your return.
Mortgage interest deduction
$42,224
100% of interest
Total taxes saved
$6,548
Federal + state
Federal tax savings
$2,406
$10,024 above standard
Itemized deduction comparison
Mortgage interest only helps when total itemized deductions are higher than the standard deduction.
Because the loan started in June 2024, the federal estimate applies the $750,000 acquisition-debt limit for deductible mortgage interest. California is modeled with a $1,000,000 state mortgage-interest limit, so state itemized interest can differ from the federal amount.
Federal itemized
$42,224
Estimated marginal tax savings: $2,406
State itemized
$42,224
Estimated marginal tax savings: $4,142
Loan snapshot
- Monthly payment
- $4,151
- Modeled through
- Dec 31, 2026
- Balance as of Dec 31, 2026
- $621,395
- Interest paid for 100% of 2026
- $42,224
- Principal paid for 100% of 2026
- $7,588
- Federal standard deduction
- $32,200
- Federal interest limit
- $750,000
- State interest limit
- $1,000,000
- State income tax
- Modeled
Tax break snapshot
Estimated value from itemizing the mortgage-interest deduction for the modeled tax year.
Estimated combined value
$6,548
This is the marginal tax value above the relevant standard deduction, not a refund estimate.
Track real mortgage balances, interest, property tax, cash flow, and net worth alongside the rest of your financial life.
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Mortgage Interest Tax Deduction Calculator
What does the mortgage interest tax deduction calculator compare?
It estimates calendar-year mortgage interest, applies federal acquisition-debt limits, and compares itemized deductions with standard deductions.
Can this replace tax preparation software or a tax advisor?
No. It is an educational estimate and does not cover every federal, state, AMT, refinance, home-equity, rental, or business-use rule.
Disclosures
How to read deduction estimates
The public calculator estimates interest using a fixed-rate amortization schedule and compares entered itemized deductions against federal and state standard deductions. Mortgage interest is generally reported on Form 1098, which is sent by your lender.
This is an educational estimate. It does not model points, refinances, home-equity proceeds, AMT, state-specific limitations, income phaseouts, rental or business use, multiple homes, or every filing-status detail. This calculator is for informational purposes only and is not financial, investment, tax, accounting, or legal advice.