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Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine.

Mortgage Tax Savings Calculator

See how your mortgage payments could reduce your income taxes

By

AARP

Updated May 21, 2025

Published November 08, 2016

/ Updated May 21, 2025

Use the mortgage tax savings calculator to determine how much your mortgage payments could reduce your income taxes. The interest paid on a mortgage, along with any points paid at closing, are tax-deductible if you itemize on your tax return. Use this calculator to see how this deduction can create a significant tax savings.

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Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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