Mortgage Tax Savings Calculator

If you’re a homeowner, the interest you’re paying on your home loan could help cut your tax bill. Our mortgage tax savings calculator estimates your average yearly tax savings on a mortgage loan and calculates your after-tax interest rate on the loan. Closing costs are generally not tax-deductible. However, charges for a specific interest rate (or discount points), could be amortized over the term of the loan if you are refinancing, or fully deductible if you are purchasing a home. Use our tool below to see what your average yearly tax savings could be.

Next Steps

Are you considering buying a home? Fifth Third can help you find the right mortgage for your finances. Learn more about Fifth Third mortgage loans and rates. Questions? Call us at 1-866-351-5353, fill out our contact form, or visit a Fifth Third Branch.

Additional Resources

Mortgage Basics

As you prepare to buy a home, connect with a Fifth Third Bank mortgage specialist to understand how mortgages work and which home loan suits your needs.

How to Make First Time Homeownership a Reality

Buying your first house and applying for a mortgage may sound like a dream, but there are many programs that help make this dream a reality. Learn more.

Tax Strategies

With Fifth Third Bank, you have access to a fully coordinated approach and a vast range of solutions to create a tax planning strategy.