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