What Is Tax Deductible On A Mortgage?
Tax savings are real dollars, so don't forget to take this benefit into consideration as you make decisions regarding your mortgage financing. As you probably know, most mortgage interest is generally tax deductible. For example, being in the 28% federal tax bracket has the effect of lowering your borrowing costs by almost a third. In the early years of a loan, much of the monthly payment is interest, so these savings can really add up.
1Real Estate Taxes