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Rent or Buy Analyzer

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Compare the financial advantage of renting versus buying based on your current monthly rent, funds towards your down payment and your desired monthly payment if you purchased a home.
Fill in the blanks below. Click the "Calculate" button when you are finished.
If you require assistance, select the button.
Monthly payment if you bought: $ <h3>Monthly Shelter Costs</h3> <p>This is your target monthly payment of principal and interest. Assume, at this point that you qualify.</p> <div>Minimum: $ 200</div><div>Maximum: $10,000</div>
Down payment: $ <h3>Down payment</h3> <p>Enter the actual down payment you have available. Assume that, if not applied to your home purchase, it could be invested to earn interest at 4% (after tax).</p> <div>Minimum: $ 2,000</div><div>Maximum: $1,000,000</div>
Annual property taxes: $ <h3>Annual Property Taxes</h3><p>Estimated annual property taxes billed by municipality.</p> <div>Minimum: $ 300</div><div>Maximum: $10,000</div>
Interest Rate: (view rates) <h3>Interest Rate</h3> <p>Enter the interest rate you would like to use for calculating your payment and amortization schedule. Enter the interest rate in a whole number format. For example: 4.56 NOT .0456</p> <div>Minimum: 2.0</div><div>Maximum: 25.0</div>
Annual increase in home value: <h3>Home Value Increase</h3> <p>The expected average annual increase in property values that you (conservatively) believe will apply to the home you would purchase.</p>
Monthly rent: $ <h3>Monthly Rent</h3> <p>Please average your expected rent payments. If you would not have to pay any rent (living with parents, etc) please do not change the default of zero.</p> <div>Minimum: $ 0</div><div>Maximum: $ 5,000 </div>
Years of comparison: <h3>Years of Comparison</h3> <p>The length of time you would be prepared to wait before buying (if it made sense financially). </p>
Information is provided for sample purposes only. MortgageBrokers.com does not guarantee its accuracy. Information should be verified and should not be relied upon as legal, financial, or other advice.

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