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Federal Tax Loan You can deduct $15,000 from $100,000 for a new taxable income of $85,000. This drops you from a 28% tax bracket to a 25% tax bracket, saving you money. The difference between 28% of 100,000 and 25% of $85,000 is $6,750. This is how much the mortgage interest tax deduction dropped your tax bill.
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THE HOME FRONT – It also offers negotiating tips and worksheets to help analyze chances of getting a mortgage. Even if you look over a contract and everything seems in order, it may be missing a key element, date.