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TAX BENEFITS OF A MORTGAGE
Mortgage Interest is generally fully tax deductable to the limits of your tax bracket. For example, if you are in the 28% tax bracket, this has the effect of lowering your borrowing costs by nearly one third. Because so much of your monthly payments go toward interest, these savings can be quite substantial.
For information on your specific financial situation, please remember to always consult with a professional tax advisor. Your tax advisor and mortgage broker are each a part of your finance team.
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