Compare the long-term financial impact of renting versus buying a home. Factor in rent increases, home appreciation, tax benefits, maintenance costs, and opportunity cost of your down payment.
The model projects total costs for both renting and buying over a specified time horizon. Buying costs include mortgage payments, property taxes, insurance, maintenance, and closing costs offset by home appreciation and tax deductions. Renting costs include monthly rent with assumed annual increases.
Estimate your monthly mortgage payment and total interest cost.
Decide if refinancing your mortgage will save you money.
Find the maximum home price within your budget.
Get an estimate of your total mortgage closing costs.
Estimate PMI costs and find out when you can drop it.
Save thousands by switching to biweekly mortgage payments.
