Should you rent or should you buy? It takes more than looking at your mortgage payment to answer this question. This tool helps you determine whether buying a home is a better deal than renting. The decision depends on many factors, including the time you expect to stay in your new home, rent and home appreciation rates, the rate you earn on savings, taxes, and maintenance costs.
This calculator is for illustrative purposes only and does not reflect availability of programs or all possible costs including, but not limited to, mortgage insurance or special tax assessments. Actual payment will vary based on factors such as points, loan-to-value, borrower’s credit, property type and occupancy. Minimum credit score required. Not a commitment to lend.