Rent vs. Own
This calculator will help you to compare the costs of renting to the costs of buying a home. Since there are all kinds of forces at work behind the scenes (interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, selling costs, etc.), comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment. This calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision.
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First Equity Mortgage Bankers, Inc. (FEMBi Mortgage) NMLS#162197, is a fully diversified mortgage bank. We finance the purchase and refinance transactions through Conforming, Non-conforming, FHA, VA, and USDA/Rural loans.
DISCLAIMER: FEMBi Mortgage has no affiliation with any government agencies or lenders. If you stop paying your mortgage, it may impact your credit.