| Rental Information: |
| Monthly rental payment ($) |
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| Monthly renter's insurance ($) |
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| Annual rent increase rate (%) |
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| New Home Purchase Info: |
| Price of home ($) |
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| Monthly property taxes ($) |
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| Monthly home owner's insurance ($) |
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| Monthly home maintenance ($) |
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| Annual home appreciation value (%) |
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| New Home Loan : |
| Loan amount ($) |
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| Interest rate (%) |
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| Term (years) |
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| Loan points ($) |
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Down Payment & Loan closing costs ($)
(non tax deductible items) |
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| How Long Do You Plan To Keep Your New Home? |
| Expected Number of Years |
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| Typical Selling costs (%) |
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| Savings account rate (%) |
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| Tax rate (%) |
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| Rent vs Buy Analysis Summary |
| Based on your situation, we've determined that you would be better off owning a home. |
| You would be $39,551.73 better off owning this home than renting. |
| This was based on your home equity at the time of sale minus your total rent savings if you had rented over the same period of time. |
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| Cost of Renting |
| Years to Rent | 5 years |
| Total Rent and Insurance | $46,397.11 |
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| Cost of Owning Your Home |
| Mortgage Payments | $54,684.95 |
| Taxes and Insurance | $12,150.00 |
| Maintenance | $6,000.00 |
| Tax Savings | ($12,454.51)
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| Total Cost of Ownership | $60,380.44 |
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| Home Sale Analysis |
| Monthly Mortgage Payment | $911.42 |
| House Value with Appreciation | $220,399.21 |
| Proceeds minus Costs of Sale | $204,971.27 |
| Loan Balance | ($139,795.43) |
| Your Equity | $65,175.84 |
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| Rent Vs Buy Analysis |
| Monthly Rent savings | $388.43 |
| The cost of home ownership minus the cost of renting as monthly cost |
| Total Rent Savings | $25,624.10 |
| Your monthly rent savings times the number of months you lived in the house plus the savings interest you would have earned on your down payment and closing costs |
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