Mortgage Interest Deduction Calculator

Estimate how much mortgage interest may actually reduce federal taxable income.

Tax year

Filing status

Adjusted gross income

Average acquisition debt

Mortgage interest rate

Property and state taxes

Other itemized deductions

Marginal tax rate

Estimated federal tax savings

$3,270

Savings above standard deduction

Deductible mortgage interest

$34,125

Debt limit $750,000

Annual interest estimate

$34,125

Allowed SALT/property taxes

$8,200

Total itemized estimate

$45,825

Standard deduction comparison

$32,200

Assumes the $750,000 acquisition debt limit ($375,000 MFS), simple average balance interest, and the 2026 OBBBA SALT cap with its high-income phase-down.