Mortgage calculator.

Approximate median effective property-tax rate on owner-occupied homes, most recent Tax Foundation composite. County and municipal rates within a state can vary by 2× or more — always confirm with your local assessor.

The federal tax treatment of your mortgage affects how much your monthly payment really costs after taxes. A few of the biggest levers:

• Mortgage interest deduction. Federal itemizers can generally deduct interest on up to $750,000 of acquisition debt on a first or second home for loans taken out after Dec 15, 2017 ($1M for older loans).
• Property tax deduction (SALT cap). State and local taxes — including property tax — are deductible only up to a combined $10,000/yr under current federal law.
• PMI premiums. Deductibility has been on-again/off-again federally. Check current-year eligibility.
• Discount points. Points paid at closing are usually deductible in the year paid on a purchase (spread over the loan life on a refi).
• State-level breaks. Homestead exemptions, senior/disability freezes, veterans' credits — every state is different.

None of this is calculated here — it depends on your income, filing status, and other itemized deductions. If you'd like an actual after-tax cost estimate for a home you're considering, book a free 30-min intro call with Guy.