Use this calculator to see whether buying a home or renting is the best option for you. Make sure you examine intangible and tangible factors before making your decision. Renting a home is sometimes an easier alternative to buying a home. Looking for a home and understanding the mortgage process can be challenging at times. However, consider the benefits home ownership can bring, weigh them carefully before making your financial decision.

Looking for more mortgage tools and resources? Browse our extensive mortgage calculators to find get the information you need to find the best mortgage.

Should I Buy or Rent?

Input
Rent Info
Monthly Rent ($)
Annual Rent Increase (%)
Property Info
Home Value ($)
Annual Maintainance ($)
Annual Appreciation (%)
Years Before Sell (Yrs)
Selling Cost (%)
Loan Info
Amount ($)
Interest (%)
Loan Length (Yrs)
Points (%)
Annual PMI
Taxes and Insurance
Your Tax Rate (%)
Annual Property Taxes
Annual Insurance
Financial Analysis
  Rent Buy
Downpayment $0.00 $50,000.00
Taxes and Insurance $0.00 $22,500.00
Total PMI $0.00 $0.00
Total Maintainance $0.00 $6,000.00
Total Payments $59,676.82 $155,864.39
Average Period Payments $994.61 $2,597.74
Rent Savings $96,187.57 $0.00
Tax Savings $0.00 $16,071.87
Total Rent Savings $80,115.70
House Appreciation $289,818.52
Proceeds Minus Cost $272,429.41
Remaining Balance $186,950.49
Equity Appreciation $85,478.92
Home Purchase Benefit $5,363.22

 
Mortgage
Rates
Loan Type
Today
1-Year ARM
5.46%
5/1 ARM
5.75%
15-Year Fixed
6.14%
30-Year Fixed
6.29%
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Rates
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