Calculator
Should I keep renting?
The long-run cost of renting against the long-run cost of owning, with the equity you build along the way counted properly.
Mortgage Information
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Buying & Renting
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After 7 Years — Buy Gain
+$62,805
Cumulative Rent$229,874
Net Buying Cost$167,069
Financial Advantage to Buying$62,805
What this is telling you
Buying is not automatically better. Below about five years it usually is not, because the costs of buying and selling have not been earned back.
An estimate from the assumptions above, not a quote and not an offer to lend. Rates, taxes, insurance and mortgage insurance all vary by property, credit profile and day.
Want somebody to check the assumptions?
Send us the numbers you put in and we will tell you which of them an underwriter would push back on.
Or call(503) 555-0175and ask for whoever is free.
