Steps
  1. Your Income
  2. Results

Thinking of buying a new home – or getting settled in? Congratulations – your mortgage interest may save you a bundle. Use this tool to find out what you can expect.

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Your Income

The amount of mortgage interest you expect to pay for 2006

The amount of points you expect to pay for the purchase of your home

Your federal income tax rate

Your estimated state income tax rate %

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Results

Your interest and points payments of $0 reduce your taxes by $0.

The chart below shows you how much these payments saved you in taxes. The lower portion of the bar indicates your net after-tax cost of the interest or points that you paid, meaning that you recovered at least part of your interest and points payments by savings on your taxes.

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