No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
So lets say I'm gonna buy a 500k house with 20% down and a 4% rate. I'm married so my standard deduction is what 12k? something like that.
Now when I use online calculators it says my tax savings on the 1st year would be $6160 but I just don't see how is that possible. If I'm paying off a 400k loan total interest paid during the first year should be about 15k. Thats only 3k more than standard deduction. Right? So mine and my wifes taxable income would only be lowered by 3k (compared to the standard deduction we couldve claimed). So in the end the whole thing would net me $750.
Please tell me if I'm calculating this wrong. I totally might be.