lower than 3.75%. The mortgage interest you pay is tax deductible. And the interest you get from bank is taxable. Assuming tax rate is 30%. Then the real amount you saved is 3.75%*70% - 3.75% *30% = 3.75% * 40% = 1.5%
the savings interest rate may increase, but the mortgage rate does not. If that happens, you will lose future interest if you pay more principal now.
the
【在 c**m 的大作中提到】 : lower than 3.75%. The mortgage interest you pay is tax deductible. And the : interest you get from bank is taxable. Assuming tax rate is 30%. Then the : real amount you saved is : 3.75%*70% - 3.75% *30% = 3.75% * 40% = 1.5%
R*a
18 楼
留在地球没当奴隶的还在窝里互相打打杀杀
【在 i****a 的大作中提到】 : 然後在百年後地球奴隶解放, 坐吃社保
M*I
19 楼
if your itemized deduction (include interest) is less than standard deduction ($11,900 for married taxpayers filing jointly for 2011), then there is no tax benefit for mortgage interest.
the
【在 c**m 的大作中提到】 : lower than 3.75%. The mortgage interest you pay is tax deductible. And the : interest you get from bank is taxable. Assuming tax rate is 30%. Then the : real amount you saved is : 3.75%*70% - 3.75% *30% = 3.75% * 40% = 1.5%
Yes. More of your payment is applied to principle and less is applied to interest. The interest is calculated based on the current principle balance. Since your principle is lower than the original amortized schedule, the interest portion is lower accordingly comparing with the original schedule.
Exactly, agree completely. Even if your itemized deduction is more than standard deduction, keep an eye on AMT (Alternative Minimum Tax). That is the minimum amount you have to pay to IRS. Thus, whether mortgage interest will really have tax benefits is largely depending on your unique case.
【在 M********I 的大作中提到】 : if your itemized deduction (include interest) is less than standard : deduction ($11,900 for married taxpayers filing jointly for 2011), then : there is no tax benefit for mortgage interest. : : the
【在 M********I 的大作中提到】 : if your itemized deduction (include interest) is less than standard : deduction ($11,900 for married taxpayers filing jointly for 2011), then : there is no tax benefit for mortgage interest. : : the