Testimonials

Rent vs. Own - Which is Best?

This simple mortgage payment calculator will show you the payment, plus property taxes,
insurance and PMI (private mortgage insurance). Many mortgage loans today include these
items in the total monthly payment.

Rent Info:

Monthly rent ?
What percent will rent increase per year ?

Purchase Info:

Purchase price of home ?
Down payment ?
Interest rate ?
Term (usually 30 or 15 years) ?
Change amount if known ?
Loan points and closing costs paid ?

Annual property taxes ?
Annual homeowners insurance (Fire insurance) ?

Annual Mortgage Insurance (If less than 20% down payment) ?

Annual maintenance cost to keep up property ?

Annual Association dues or other fees ?

Other Info:

How many years will you stay in the home ?

What is your federal income tax bracket ?

What percent will your home appreciate per year ?

What percent will you earn on your investments ?
(Assumes down payment is invested if renting)

Selling Info:

Real estate commissions to sell your home ?

Closing cost to sell your home ?

Monthly Payments
Property Taxes	$
Fire Insurance	$
Mortgage Insurance	$
Other Monthly Fees	$
Compare monthly payments
If renting, the gain/loss on your invested down payment
Selling price of home	$
Now subtract your loan balance	$
This is your equity from appreciation principal reduction	$
Minus selling cost (real estate commissions, closing, etc)	$
Minus down payment purchase closing costs	$
Plus tax advantages of owning	$
Total gained (or lost) from Owning	$
Direct Out-of-Pocket Paid to Rent vs.Own
You will save by Renting rather than Owning