Rent vs. Buy Calculator

This calculator will compare the cost of renting vs. the real cost of buying a home. This calculator will compare the costs and benefits of taxes, fees, and interest you will pay when buying a home to the monthly rent you pay when renting. It does not include payments made against the principal on your loan, since those payments become equity in your home.

For help with a particular item, click on the "?" next to the item.

Monthly rent: $
Home cost: $
Down payment: $
Loan term: months
Points: %
Fees: $
Mortgage insurance: ? $
Homeowner's insurance: ? $
Association dues: ? $
Average monthly maintenance: ? $
Property tax: %
State and Federal income tax: ? %
Interest rate: %
Your savings rate: ? %
How much will your home appreciate each year?: ? %
How much will rent increase each year?: ? %
How long will you stay in this property?: ? months

  Rent   Buy
Monthly expenses
Monthly payment   800.00   658.60
Property tax   0.00
Association dues   0.00
Mortgage insurance   0.00
Homeowner's insurance   0.00
Other costs   0.00
Total Monthly payment   800.00   658.60
Present value of all costs over 60 months ?   43,537.67   27,359.58
Home equity ?   4,911.08
Total net cost   43,537.67   22,448.50

You will save $21,089.17 if you buy instead of rent.

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TimeValue Software
for
Community National Bank

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The information provided by these calculators is for illustrative purposes only. The information entered may vary from your actual loan, mortgage, investment, or savings results. Interest rates are hypothetical and are not meant to represent any specific investment. Rates of return will vary over time, particularly for long-term investments. The calculated results are not guaranteed to be accurate and are in no way endorsed, offered or guaranteed by Community National Bank.