Instructions:
Home Price: For an accurate comparison, research the purchase price of a home similar to your rental and input that amount for “Home Price”.
Down Payment: Input your estimated down payment in dollars, we’ll show you what a return on this investment might look like in the results.
Interest Rate: Input the annual interest rate for your proposed mortgage loan.
Term in Years: Specify the length of time over which you will repay the loan. Usually 30 years.
Home Appreciation Rate: Input the annual rate of appreciation for the property location.
Monthly Rent: Input the monthly cost to rent a home with similar amenities, size, and quality.
Years of Comparison: Enter the length of time you anticipate living in the home you intend to buy. This plays a significant role in determining whether renting or purchasing is the right choice.
Calculate!
Simply fill in the fields and let the calculator do the work for you. Happy calculating! 🏡🚗💡