Strict Standards: Non-static method Calc::BuildAmortizationTable() should not be called statically in /home/eastcoast/public_html/calc19.php on line 186

Strict Standards: Non-static method Calc::PeriodPayment() should not be called statically in /home/eastcoast/public_html/functions.php on line 173

Strict Standards: Non-static method Calc::PeriodPayment() should not be called statically in /home/eastcoast/public_html/calc19.php on line 195
Mortgage calculators

Rent vs. Buy

Input Information
Rent Info
Monthly Rent : ($)
Annual Rent Increase : (%)
Property Information
Home Value : ($)
Annual Maintenance : ($)
Annual Appreciation : (%)
Years Before Sell : (Yrs)
Selling Cost : (%)
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Yrs)
Points : (%)
Taxes And Insurance Information
Your Tax Rate : (%)
Annual Taxes :
Annual Insurance :
Annual PMI :

Send to Email Address :
Name :
Phone # :

This is an example of in-page advertisement message. You will be able to change it on your own advertisement or information.

Do you like these calculators? Order now!

Financial Analysis (Switch to Plain English)
  Rent Buy
Taxes and Insurance : $0.00 $22,500.00
Total PMI : $0.00 $3,229.17
Total Maintenance : $0.00 $4,500.00
Total Payments : $51,996.70 $110,752.41
Average Monthly Payment : $866.61 $1,845.87
Monthly Rent Savings : $979.26
Tax Savings : $0.00 $4,550.00
Total Rent Savings : $54,205.71
House Appreciation Value : $382,884.47
Proceeds Minus Costs : $356,082.56
Loan Balance : $229,571.83
Equity Appreciation : $126,510.73
Home Purchase Benefits : $72,305.01
Plain English Help (Switch to Financial Analysis)

Is it financially better to buy a home or to rent? The answer to this question depends upon how much the home costs, how much you are paying for rent, and how much you will have to pay each year in order to maintain your home.

If you were to pay $800.00 per month, for example, and the average rental payment increase was 4.000%, you would pay $51,996.70 in a 5 year period toward rent. If you purchased a home and borrowed $250,000.00 with a 5.000% interest rate, and you paid $900.00 every year toward its maintenance, you would pay $110,752.41 in a 5 year period toward mortgage payments if your Federal tax rate is 26.000%, you pay $3,000.00 in taxes each year and your annual insurance rate is $1,500.00.

When you consider your tax benefits and the appreciation of your home, however, you will actually SAVE money by purchasing a home. If your home shows an annual appreciation of 5.000% and your selling cost is 7.000%, your house appreciation value will be $382,884.47. As a result, your total home purchase benefit will amount to $72,305.01.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.

© 2012 - East Coast Mortgage & Financial Services Inc - All Rights Reserved

Website Design & SEO by Long CSI