Rent vs. Own Calculator

The mortgage calculators are designed to give you an idea of what you can expect. Contact one of our Mortgage Loan Originators for an accurate/actual quote for your specific loan or for additional information.

Rent vs. Own Calculator

Should you Rent or Own?


Rent vs. Own Results

Monthly Rent: $1,000.00
Home Purchase Price: $100,000.00
Down Payment: $0.00
Mortgage Interest Rate: 5.00%
Should you rent or own? Own
Average monthly payment savings if owning: $553.18
Estimated total gain over 7 years if owning: $76,138.72
Payment Considerations Rent Own
Initial Rent Payment $1,000.00
Renter’s Insurance $30.00
Mortgage Payment $536.82
Property Taxes $104.17
Homeowner’s Insurance $25.00
Before Tax Monthly Payment $1,030.00 $665.99
Annual Home Maintenance $500.00
Total Payments Over 7 Years $93,089.16 $59,443.02
Total Tax Savings Over 7 Years $12,820.69
Average After Tax Monthly Payment $1,108.20 $555.03
Investment Considerations After 7 Years
Estimated Home Selling Price $131,593.18
Loan Balance $87,945.02
Estimated Cost to Sell $7,895.59
Down Payment & Initial Closing Costs With Unearned Interest $6,080.68
Investment Gain of Owning vs. Renting $29,671.89
Total Payment Savings of Owning vs. Renting $76,138.72
Combined Gain of Owning vs. Renting $46,466.83