Tax Benefits Calculator

Purchase and ownership of a property involve a lot of tax obligations that are quite difficult to get a clear picture of. This calculator estimates the amounts of tax deductions you are entitled to.

Input Information
Property Information
Home Value : ($)
Years Remaining : (Yrs)
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Yrs)
Points : (%)
Closing Costs : ($)
Taxes And Insurance Information
Annual Taxes :
Annual Insurance :
Annual PMI :
Your Tax Rates And Deductions
Tax Rate : (%)
State Tax Rate : (%)
Deductions : ($)
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Name :
Phone # :

Financial Analysis (Switch to Plain English)
Amount Financed : $250,000.00
Monthly Principal & Interests : $1,342.05
Monthly Real Estate Taxes : $250.00
Monthly Insurance : $125.00
Loan To Value Ratio : 83.33%
Months With PMI : 31
Monthly PMI : $104.17
Total Monthly Payments : $1,821.22
  First Years Total
Interests and Points : $35,568.50 $235,639.46
Total Property Taxes : $15,000.00 $90,000.00
Total Deductions : $50,568.50 $325,639.46
Tax Savings : $15,676.24 $100,948.23
Average Payment After Taxes : $1,559.95 $1,540.81
Plain English Help (Switch to Financial Analysis)

Calculating and optimizing tax payments is always a pain. This calculator is designed to relieve you of it, but you'll have to do some paperwork anyway and provide accurate information on the following subjects:

  • The current value of your home
  • The number of years before you plan to sell the home
  • The amount of your loan
  • The interest rate on your loan
  • The length of your loan
  • The number of points applied to your loan
  • The closing costs when you purchased the home
  • The annual taxes for the property
  • The annual insurance for the property
  • The PMI rate
  • The Federal tax rate
  • The State tax rate
  • The amount of your deductions

Now press Calculate and marvel at the tax benefit of your home.

If your home has a value of $300,000.00, for example, and you get a loan for $250,000.00, your total monthly payment may climb up to $1,821.22 (considering all the factors above). Due to the tax benefit, however, your average payment will be $1,559.95 during the first 5 years. If you continue to live in this home after this period, you will only pay the average of $1,540.81 per month.