Compare the costs to buy a home vs. to rent using this calculator.

UMPC News
 Search for Web Home Mortgage Calculator

# Rent vs. Buy Calculator

This mortgage calculator will compare all of the true costs of owning a house to the cost of renting. Please fill in or change the value all of the fields below to get an accurate picture of how much money you may be losing by continuing to rent.

Loan Amount (?)
Loan Amount - this is the beginning balance on the loan.
Interest Rate (APR) (?)
Interest Rate - this is the annual interest rate you will pay on the loan.
Duration of loan in years (?)
Years - what is the length of the loan in years.
Payments per year (?)
Payments / Year - how many payments will you make per year (12 for monthly or 26 for biweekly)
Annual Property Taxes (?)
Property Tax - Ask a real estate person, mortgage lender, or your local assessor's office what your annual property tax bill would be for a house of similar value to the one you are considering buying ( the average is 1.5 percent of your property's value).
Annual Home Insurance(?)
Home Insurance - \$300 - \$900 per year, depending on property value.
Annual Home Maintenance(?)
Home Maintenance - 1% of property cost.
Income Tax Rate (?)
Tax rate Single filers Married filing jointly Married filing separately Head of household
15% Up to \$27,050 Up to \$45,200 Up to \$22,600 Up to \$36,250
27.5% \$27,051 - \$65,550 \$45,201 - \$109,250 \$22,601 - \$54,625 \$36,251 - \$93,650
30.5% \$65,551 - \$136,750 \$109,251 - \$166,500 \$54,626 - \$83,250 \$93,651 - \$151,650
35.5% \$136,751- \$297,350 \$166,501 - \$297,350 \$83,251 - \$148,675 \$151,651 - \$297,350
39.1% \$297,351 or more \$297,351 or more \$148,676 or more \$297,351 or more

Make sure you click here for our home buying tips.