What percentage of your yearly mortgage do you get back in tax returns?

No way to tell because it varies so much

What you get back depends on your tax bracket and how much extra the itemizing of deductions gives you in comparison to the standard deduction. Basically, you get to deduct interest paid and taxes. Filing Married (no children) gets you the standard deduction of $11,400. If the interest and taxes paid on the mortgage (plus any other deductions) is less than the $11,400, you actually gain absolutely nothing from the mortgage. If your deduction, on the other hand total say $15,000 and you are in the 20% tax bracket, you would see an extra $720 in your taxes.

As your mortgage ages, remember, the interest paid decreases so each year you get a little less back until at some point your crawl below the standard deduction and pay all that interest with no tax advantage.

Principal paid is never deductible.

Depends on your tax bracket. You might get SOME back, but not a major chunk of it.

You only get anything if you have enough deductions to itemize. And realtors often exaggerate the tax savings you'll get.

An example: you have $14,000 in itemized deductions including your mortgage interest and real estate taxes, and are in a 15% tax bracket. You'd itemize, but then would not get the standard deduction that you would otherwise get. If you're married, the tax savings would be ($14000 - 11,400) * .15 or $390. If you're single, since you'd only lose $5700 in standard deduction by itemizing, your tax savings would be (14,000 - 5700) * .15 or $1245. In either case, not "a large chunk" of your interest.

You get back whatever percent is the tax bracket you're in. If you're in the 28 percent tax bracket, you'd get back 28 percent of the amount of interest you've paid.