Mortgage Tax Calculator

Mortgage Interest and Property Tax Deductions

Homeownership offers significant tax advantages. The mortgage interest deduction allows you to deduct interest paid on up to $750,000 of qualified residence debt. Additionally, you can deduct state and local property taxes up to $10,000 per year ($5,000 if married filing separately).

2026 Tax Rules for Homeowners

• Mortgage Interest Deduction: Deduct interest on loans up to $750,000 for married couples filing jointly ($375,000 for separate filers)
• SALT Cap: State and local tax deduction is capped at $10,000 combined for property and income taxes
• Standard Deduction 2026: $14,600 for single filers, $29,200 for married couples filing jointly
• Itemizing: Only itemize deductions if your total itemized deductions exceed the standard deduction

Should You Itemize?

Use our calculator to compare your itemized deductions (mortgage interest + property taxes + other deductions) against the standard deduction. In many cases with high loan amounts and property taxes, itemizing saves thousands of dollars annually.