Rent Vs. Buy

If you pay $850 a month for rent...

You could own a $125,000 home!

When you pay your rent, you not only give your landlord a paycheck, you pay his mortgage and help him to get tax deductions. Why not pay your own mortgage and get your own tax deductions? If you're spending $850 a month on rent, you could spend about the same amount for a $125,000 house. And the interest you pay on a mortgage is often tax deductible. So you could even get part of each monthly payment refunded at the end of the year. Not to mention, if you own a home, you will have something to show for the money you pay out every month.

What are you waiting for?! Stop paying your landlord's mortgage. Start paying your own. You will be building equity. It's like paying yourself to live!

Check out the calculator below to see what you could save every year by owning your own home! Don't let a down payment, or lack there of, keep you from your dream home. It's the age of the buyer, and there are a lot of loan programs that require little or no money down! Go to our Find the Best Loan page to see what we have to offer and what you could qualify for.

Rent

Buy


Monthly Rent	$
Monthly Renter's Insurance	$
Total Rent	$
Rent Inflation Per Yr


Purchase Price	$
Down Payment	$
Loan Amount	$
Interest Rate		%
Term
Monthly Taxes & Insurance	$
Total Payment	$
Appreciation of Home Per Yr


Cost to Rent 3 Yrs	$
Estimated Equity in 3 Yrs	$


Cost to Own 3 Yrs	$
Estimated Equity in 3 Yrs*	$

* The estimated equity in 3 years is calculated assuming 3% appreciation per year on your home. It also assumes that you will have paid off 1.5% of the principal balance of your loan, and includes the down payment as part of the equity.