See the mortgage interest tax savings on a home equity loan and line of credit. Since no loan principal is repaid during the borrowing period, the line of credit generates more interest expense and, thus, larger tax savings. As a result, the effective borrowing cost for a home equity line of credit is lower than for a home equity loan. The home equity loan has regular amortization of loan principal, which is not tax-deductible.
Calculate Tax Savings
Provident Credit Union serves the entire San Francisco Bay Area and
beyond with the best financial products that credit unions can offer, such as
savings accounts and certificates,
Provident Credit Union offers Membership to anyone who
lives or works in several bay area
counties, including San Mateo County, San Francisco County, Santa Clara County,
Alameda County, or Contra Costa County, and also to anyone who lives or works in
Monterey County, Sacramento County, El Dorado County, Placer County,
or Humboldt County.
Provident Credit Union
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