Tax Benefits Calculator

This calculator helps to determine the tax advantages of owning a home. The Financial Analysis results show side-by-side breakdowns of first year and total tax savings.

To use the calculator, enter the following information:

Property Information: Home Value and Years Before Sell.
Loan Information: Amount (of mortgage), Interest Rate and Length (in years), Points and Closing Costs.
Tax and Insurance Information (choose dollars or percentage): Annual Taxes, Annual Insurance and Annual PMI.
Your Tax Rates and Deductions: Tax Rate, State Tax Rate and Deductions.

The calculator will compute the following information:

The calculator can also produce a PDF output file for download, and you can click the check box to view the Schedule Table for the time frame selected. The Schedule Table fields include: Number (of payment month), Interest, Principal, Tax Savings, PMI and Balance. It also shows totals for every field after each year of the mortgage.

Input Information

Property Information
Home Value :	($)
Years Before Sell :	(Yrs)
Loan Information
Amount :	($)
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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Show Schedule Table

Financial Analysis

Amount Financed :	$250,000.00
Monthly Principal and Interests :	$1,304.12
Monthly Real Estate Taxes :	$250.00
Monthly Insurance :	$125.00
Loan To Value Ratio :	83.33%
Months With PMI :	30
Monthly PMI :	$104.17
Total Monthly Payments :	$1,783.29
	First Years	Total
Interests and Points :	$33,853.68	$221,982.60
Total Property Taxes :	$15,000.00	$90,000.00
Total Deductions :	$48,853.68	$311,982.60
Tax Savings :	$15,144.64	$96,714.61
Average Payment After Taxes :	$1,530.87	$1,514.63