Rent vs. Own Results
| Monthly Rent: | $ | |
| Home Purchase Price: | $ | |
| Down Payment: | $ | |
| Mortgage Interest Rate: | % |
| Should you rent or own? | Own | |
| Average monthly payment savings if owning: | $ | |
| Estimated total gain over 7 years if owning: | $ |
| Payment Considerations | Rent | Own |
|---|---|---|
| Initial Rent Payment | $ | - |
| Renter's Insurance | $ | - |
| Mortgage Payment | - | $ |
| Property Taxes | - | $ |
| Homeowner's Insurance | - | $ |
| Before Tax Monthly Payment | $ | $ |
| Annual Home Maintenance | - | $ |
| Total Payments Over 7 Years | $ | $ |
| Total Tax Savings Over 7 Years | - | $ |
| Average After Tax Monthly Payment | $ | $ |
| Investment Considerations After 7 Years | ||
|---|---|---|
| Estimated Home Selling Price | $ | |
| Loan Balance | $ | |
| Estimated Cost to Sell | $ | |
| Down Payment & Initial Closing Costs With Unearned Interest | $ | |
| Investment Gain of Owning vs. Renting | $ | |
| Total Payment Savings of Owning vs. Renting | $ | |
| Combined Gain of Owning vs. Renting | $ |
This information provided is for educational purposes only and does not constitute a rate quote or credit approval, subject to change. Payments shown above reflect conventional loan financing with a 20% down payment with no mortgage insurance.