What Are the Tax Savings on My Line of Credit?

With the interest on a home equity line of credit being deductible when you itemize deductions, it may surprise you how much you can save in taxes. Use this calculator to determine your potential tax savings with a home equity line of credit.
Loan Information
Loan amount ($) 
Annual interest rate (%) 
Number of months (30yrs=360) 
Marginal tax bracket (%)help
Desired table display monthly or yearly? 
This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. This service shall not infer that the company assumes any fiduciary duties. In addition, such service should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

These calculators are for information, education, and entertainment purposes only. It is your responsibility to evaluate the merits and risks associated with relying on any information provided.

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Consult your tax advisor regarding the deductibility of interest.

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