MortgageCostsGuide
Mortgage Costs Guide

The mortgage questions you actually have — answered with real numbers

Most homeowners overpay on taxes or miss deductions they qualify for — not because the rules are that complicated, but because the guides that explain them are buried in disclaimers and padding. We cover mortgage interest deductions, home equity loans, PMI removal, and refinancing. With actual examples, not vague approximations.

What we cover

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Tax Deductions
Mortgage interest, SALT limits, home equity loans — what qualifies and what doesn't under current IRS rules.
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Escrow & Property Taxes
How servicers collect and pay your taxes, what triggers payment changes, and how to audit your escrow account.
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Refinancing
The tax side of cash-out refinancing — what's deductible, what isn't, and how to calculate break-even on closing costs.
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PMI Removal
How to cancel private mortgage insurance early — including using home appreciation and extra principal payments.

Calculators

Run your own numbers. Each calculator is built around a specific decision — not generic payment math.

Common Questions

Is mortgage interest still tax deductible?
Yes — on up to $750,000 of mortgage debt for loans originated after 2017. You need to itemize on Schedule A, and your total deductions must exceed the 2025 standard deduction ($30,000 for joint filers) to benefit.
How do I know if I should itemize?
Add up your mortgage interest, property taxes (capped at $10,000 SALT), and charitable donations. If that total exceeds your standard deduction, itemizing saves you money. Our calculator does this math for you.
Can I deduct home equity loan interest?
Only if you used the funds to buy, build, or substantially improve the home securing the loan. Using a HELOC to pay off credit cards? That interest isn't deductible under current law.
How long until PMI is removed automatically?
PMI cancels automatically when your balance hits 78% of the original purchase price — which typically takes 8–11 years on a 30-year loan. You can request cancellation at 80% LTV, or sooner if your home has appreciated.

Looking for your state?

State income tax treatment of mortgage interest varies significantly — nine states have no income tax, several don't allow itemized deductions at all, and rates range from 2.5% to 13.3%. We have state-specific pages covering all 50.

Browse guides by state →