MORTGAGE PAYMENT

PURCHASING POWER

QUALIFYING LOAN

RENT VS BUY

REFINANCE

15 vs 30 Year

3-2-1 BUYDOWN

Bi-weekly

Rent vs. Buy Calculator

See if its time to stop renting and buy a home.

Comparable rent

Monthly Rent

$

Renters Insurance (Monthly)

Home purchase

Home Purchase Price

$

Down Payment

$

Property Tax (Yearly)

$

Home Owners Insurance (Yearly)

$

new loan info

Loan Term (Yrs)

Interest Rate (%)

%

Estimate Settlement Costs

$

assumptions

Home Appreciation Rate

%

Expected Yrs. in Home

Selling Costs (%)

%

State + Federal Tax Rate

%
calculate

Changes detected

After5 years, your total savings will be

$ 64,023*

(You save$15,352 in rent and tax savings, plus you gain$48,671 from the sale of your home)

Comparable rent

Monthly Rent

$

Renters Insurance (Monthly)

Home purchase

Home Purchase Price

$

Down Payment

$

Property Tax (Yearly)

$

Home Owners Insurance (Yearly)

$

new loan info

Loan Term (Yrs)

Interest Rate (%)

%

Estimate Settlement Costs

$

assumptions

Home Appreciation Rate

%

Expected Yrs. in Home

Selling Costs (%)

%

State + Federal Tax Rate

%
calculate

Changes detected

After5 years, your total savings will be

$ 64,023*

(You save$15,352 in rent and tax savings, plus you gain$48,671 from the sale of your home)

Created with Highcharts 7.2.2Renting vs Buying025k50k75k100kHighcharts.com
After 5 years, your total savings are $64,023
( You save $15,352 in rent and tax savings, plus you gain $48,671 from the sale of your home )
Created with Highcharts 7.2.2RentingBuying0500100015002000Highcharts.com
Your monthly home payment is $1,589
compared to a monthly rent of $1,400
loading ...

*Results are hypothetical and may not be accurate. This is not a commitment to lend nor a preapproval. Consult a financial professional for full details.

Payment example: If you bought a $450,000 home with a 20% down payment, for a loan amount of $360,000, with a 30 year term at a fixed rate of 6.125% (Annual Percentage Rate 6.220%), you would make 360 payments of $2,189.00. Payment stated does not include taxes and insurance, which will result in a higher payment.