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Tax Savings Worksheet
Enter the amount that you will be borrowing: $
Enter your repayment term in months: months

Enter your home equity loan/line rate (APR):

Note: your rate may vary depending on credit quality, LTV position and loan amount. See sample home equity rates.

 %

Enter your current Income Tax Bracket:
(see IRS Tax Tables)

 %

For comparison, enter the rate of other loans that you may be considering (auto, marine, installment, etc.):

 %
*
   
  Home Equity Other Loan
Monthly Payment $ $
After Year 1    
Total Amount Paid $ $
Potential Tax Savings* $ $
Net Annual Amount Paid* $ $

* Calculations are based upon the assumptions you entered. Please note that rounding errors can make a small difference in calculations. The circumstances surrounding your credit and loan qualifications may result in different calculations. You need to consult your tax advisor for the applicability of tax savings.

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