Mortgage Interest Deduction Calculator
Estimate how much you'll actually save in taxes — federal and state — from deducting your mortgage interest.
$22,750
Annual interest paid
$5,005
Federal tax savings (22% bracket)
$8,031
Total savings (fed + state)
Heads up: Your mortgage interest ($22,750) is below the standard deduction ($30,000). You'd likely take the standard deduction — meaning the mortgage interest deduction doesn't reduce your taxes further unless you have other itemized deductions.
This calculator is for estimation purposes only. Results are based on 2025 standard deduction amounts and assume you itemize. Consult a tax professional for advice specific to your situation.