Your mortgage as a tax shelter

homeownersinsurance

Your home is likely your largest investment you’ll ever acquire.

Knowing exactly what you’re paying for it is mandatory.

Unfortunately, when people map out the life of their mortgage, they often fail to consider the tax benefits associated with the mortgage.

With tax return filing on the horizon, Credit Sesame took a look at three-home buyer scenarios to determine just how much they will receive in tax benefits over the life of their loan, and the total amount they’ll end up paying.

The calculation also considers the cutoff point of each filing status when the standard deduction becomes more than the itemized deduction.

Mouse over the infographic below and click to enlarge for the full story.

About the author

A DeadlineNews.Com Silicon Valley Contributing Writer, with a penchant for the quick, story-telling capability of infographics, Mark K. Hicks is broker/owner of The Seabrooke Group in San Jose, CA. Hicks, who takes a "client for life" approach to business, has more than 20 years real estate experience, including creative financing, foreclosure acquisition, probate sales and tax-deferred exchanges. Network with Hicks on LinkedIn.

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