LittleAfrica.Com Rent vs. Buy Calculator

This calculator will compare the cost of renting vs. the real cost of buying a home. This calculator will compare the costs and benefits of taxes, fees, and interest you will pay when buying a home to the monthly rent you pay when renting. It does not include payments made against the principal on your loan, since those payments become equity in your home.

For help with a particular item, click on the "?" next to the item.

Monthly rent:	$
Home cost:	$
Down payment:	$
Loan term:		months
Points:		%
Fees:	$
Mortgage insurance: ?	$
Homeowner's insurance: ?	$
Association dues: ?	$
Average monthly maintenance: ?	$
Property tax:		%
State and Federal income tax: ?		%
Interest rate:		%
Your savings rate: ?		%
How much will your home appreciate each year?: ?		%
How much will rent increase each year?: ?		%
How long will you stay in this property?: ?		months

		Rent		Buy
Monthly expenses
Monthly payment		800.00		658.60
Property tax				0.00
Association dues				0.00
Mortgage insurance				0.00
Homeowner's insurance				0.00
Other costs				0.00
Total Monthly payment		800.00		658.60
Present value of all costs over 60 months ?		43,537.67		27,359.58
Home equity ?				4,911.08
Total net cost		43,537.67		22,448.50

You will save $21,089.17 if you buy instead of rent.

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The information provided by these calculators are estimates based on the information entered and may vary from your actual loan, mortgage, investment or savings results. The calculated results are not guaranteed to be accurate and are in no way endorsed, offered or guaranteed by LittleAfrica.Com.