Calculators

Home Loan: Rent vs Purchase

Compare the costs and benefits of leasing versus buying your next home to make the best decision.

Home: Buy vs Rent

Buy Options

Home Price

350000

Down Payment

70000

Loan Term (years)

30

Interest Rate

5

Homeowners Insurance (monthly)

150

Maintenance (monthly)

150

Estimated cost of maintenance or repairs to home, including structural, HVAC, appliances, landscaping, etc...

Property Taxes (monthly)

500

Rent Options

Rent Payment

2000

Security Deposit

2000

Renters Insurance (monthly)

15

Buy vs Rent Comparison

Based on your inputs

Buy Option

Total Loan Amount

Mortgage Payment

Insurance, Maintenance, Taxes (monthly)

Total Buy Cost

Over the total length of loan term

Rent Option

Rent + Insurance Payment

Security Deposit

Total Lease Cost

Also over the total length of home loan term

Result

Cost Difference

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The accuracy of this calculator and its applicability to your circumstances is not guaranteed. Results should be discussed with a qualified professional before any product purchases or loan commitments are made.

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