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Rent vs. Buying Comparison
Purpose: This mortgage tool allows you to compare the costs of renting vs. buying a home in the short term and the long term.
What is your monthly rent payment? $
What is the sales price of the home you wish to purchase? Don't know how much you can afford? Try our mortgage qualifier to explore your options. $
How much money do you want to put down on the home? Typical down payments range from 5% to 10% of the sales price. $
What is your estimated gross (pre-tax) income? Include your salary, commissions, bonuses, etc. You may include alimony and child support if you want that income included in the calculations. $ Yearly Monthly
How long do you plan on living in the home? If you do not know, use an average stay of 7 years. years
What is your tax filing status? Single Married filing jointly Married filing separately Head of household Qualifying widow(er)
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