Rent vs. Own Calculator

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Have you ever wondered that you are paying a lot of money for the rent? You can use the money you are paying for rent as a monthly payment of your mortgage loan, with which you can have your own house. If you want to know more about how much you can save by purchasing a home vs. paying the same amount for rent. Using the current mortgages rates, this mortgage calculator provides you the statistics of an assumed 5 year period with 33% tax bracket.

Monthly Payment for Rent :
$
Monthly Rental Insurance:
$
Annual Inflation Rate :
%
Cost Price of Home :
$
Initial Down Payment :
$
Loan Term :
Years
Mortgage Loan Annual Interest Rate :
%
Discount Points on Home Purchase :
%
Origination Fees :
%
Other Loan Costs :
$
Private Mortgage Insurance (PMI) :
%
Homeowner's Insurance Rate :
%
Monthly Association Dues :
$
Average Monthly Maintenance :
$
Annual Property Tax :
$
State + Federal Income Tax Rate :
%
Expected Earning Interest Rate on Savings (or) Interest Rate you expect to Earn on Savings :
%
Expected Home Appreciation Rate (Yearly) :
%
Years of stay at this Home :
Commission Rate of Realtor :
%
       


The estimated cost of Renting
$
The estimated cost of Buying
$

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