Rent Vs Buy Calculator

For many, home ownership is not only a great source of pride, but can mean significant tax savings and even reduction in monthly payments depending on your interest rate and home loan specifications.

Is home ownership the right path for you? Use our calculator to analyze the total cost to rent versus the total cost to own for a specific period of time.

Looking for more personalized rates? Compare rate quotes from lenders and brokers, then return to our Rent vs Buy Calculator.

Mortgage Calculator Mortgage Length Years Interest % Loan Amount Annual Tax Annual Insurance   Mortgage Calculation Results Monthly Principal + Interest Monthly Tax Monthly Ins Total Monthly Payment DISCLAIMER: The figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.

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This calculator will help you to compare the costs of renting to the costs of buying a home. Since there are all kinds of forces at work behind the scenes (interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, selling costs, etc.), comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment. This calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision.