Standard deduction for singles 2022 was ~$13k. For itemizing, you are able to deduct $750k federally. At 5% interest, that's $37.5k, and now you can itemize SAL

Standard deduction for singles 2022 was ~$13k. For itemizing, you are able to deduct $750k federally. At 5% interest, that's $37.5k, and now you can itemize SALT for $10k, and some others like registration. We'll call it $48k deduction. (CA you can deduct even more) That's an extra $35k deduction, at typical 40% marginal tax rates, that saves an individual $14k/yr in their bank account, almost $1.2k a month. Yes, the benefit is less for married, because standard deduction becomes $26k so marginal deduction is an extra $22k, $9k/yr in the bank, $750/mth.