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What is the Real Benefit?
Your home is likely your biggest investment. So, knowing exactly what, and how much, you’re paying is just common sense.
Total Costs
But, when medical professionals map out the life of their home mortgage and the total cost — even factoring the best mortgage rate – they often fail to consider the copious tax benefits they will receive.
Going Granular
We take 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 will have paid when their loan is finally over.
Assessment
Also included is the cutoff point for each filing status for when the standard tax deduction becomes more than the itemized deduction.
Conclusion
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Filed under: Financial Planning, LifeStyle, Taxation | Tagged: defaults, Fannie Mae, Freddie Mac, home mortgage deductions, mortgage, Physician’s Home Mortgage Tax Benefit, under water mortgages | 6 Comments »
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