Will mortgage interest lower your taxes?
An honest first-year comparison of itemizing against the 2026 standard deduction. For education only; talk with a tax professional.
01Filing
02Mortgage (first year)
03Other itemized deductions
ƒHow this is calculated
- Savings = (total itemized − standard deduction) × your bracket, and only if itemizing comes out higher. You take one or the other, not both.
- Mortgage interest is deductible on up to $750,000 of acquisition debt ($375,000 if married filing separately). The interest amount falls each year as the balance drops.
- This is a simplified federal estimate. It leaves out the SALT phase-down above $505,000 of income, state returns, AMT and other limits. Please talk with a tax professional before making decisions based on tax savings.
Estimates for illustration only. This is not a loan offer, rate quote, or commitment to lend. Results come only from the numbers entered above. Interest rates are examples you supply, not advertised rates, so check current rates before deciding. Fee schedules and limits shown are published figures that can change.
This calculator is being provided for educational purposes only. The results are estimates based on information you provided and may not reflect CrossCountry Mortgage, LLC product terms. The information cannot be used by CrossCountry Mortgage, LLC to determine a customer’s eligibility for a specific product or service.
Austin Gerimonte, NMLS #2277430 · CrossCountry Mortgage, LLC NMLS #3029 · Equal Housing Lender · NMLSConsumerAccess.org