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Tuesday, January 06, 2009
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Rent Vs. Buy Calculator
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.

Help Buttons: For pop-up explanations of any of the entry fields, click the radio button next to the description.

Monthly rent ($):
Monthly rental insurance ($):
Expected annual inflation rate (%):
Purchase price of home ($):
Down payment amount ($):
Length of mortgage term (# of years):
Mortgage's annual interest rate (%):
Discount points on purchase of home (%):
Origination fees (%):
Other loan costs ($):
Mortgage Insurance (PMI %):
Homeowner's insurance rate (%):
Monthly association dues ($):
Average monthly maintenance ($):
Annual property tax ($):
State plus Federal income tax rate (%):
Interest rate you expect to earn on savings (%):
Expected percentage your home will appreciate by each year (%):
Number of years you will stay at this property:
Realtor commission rate (%):
Total estimated cost of renting:
Total estimated cost of buying:

DISCLAIMER: The accuracy of these calculators and their applicability to your circumstances is not guaranteed. Our calculators are for demonstration purposes only and do not guarantee your ability obtain financing nor constitute financing acceptance. You should obtain personal advice from qualified loan professionals about your personal loan situation.

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CURRENT RATES*
Prime Rate3.250%
LIBOR 30D0.430%
LIBOR 90D1.420%
LIBOR 180D1.794%
LIBOR 1Y2.092%
T-Bill 1Y0.340%
T-Bill 5Y1.470%
T-Bill 10Y2.110%
IR Swap 1Y1.230%
IR Swap 5Y2.090%
IR Swap 10Y2.500%
Gold $/oz858.00
Silver $/oz11.26
* as of 01/06/2009
MORTGAGE CALC.
Term (in Years):  
Interest Rate: %
Amount: $
Payment: $
CALCULATORS
 
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