how much I could save tax if I purchase a house?

Question

mortgage
tax saving
cost and benefit analysis

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Answer 1

Given that you can deduct the interest on the payments and the annual taxes, that's pretty much all of your payments in the first year. If your tax rate is 25%, then you'd save about 25% of everything you pay, minus your Standard Deduction. To deduct taxes, you Itemize, and give up the Standard Deduction.