Here are a list of resources that can be helpful while determining whether you should rent or buy a home.
Rent vs Buy Calculator
Should you buy or rent? This is a question most of us will likely face in our lives, whether buying a house makes more financial sense than renting a home. There is a way to understand the financial impact of buying vs. renting. The realtor.com® rent vs. buy calculator can help you calculate the net cost of buying a home versus the cost of renting over time.
Net costs compare the total amount of money you would be spending over time, minus the potential value you might receive if you someday sell the property. View the interactive graph and see what this looks like at different times, and how it compares if you were instead paying rent. From the tool, you'll see that the amount of time you plan on keeping the home has a major impact. To get more personal, you can customize the advanced options to crunch more specific numbers and evaluate more specific scenarios. But keep in mind that a financial comparison is just one of many factors when deciding whether to rent or buy.
Use this mortgage calculator to calculate your monthly mortgage payments quickly and easily. Enter your home location and the desired home price in the fields below. In seconds, you will have an estimate of your monthly house payment.
Home Affordability Calculator
Use the home affordability calculator to determine how much house you can afford. Enter details about your income, monthly debts and down payment to find a home within your budget.
Should I refinance my home? Use our refinance calculator to help determine if refinancing is the right option for you. Our easy-to-use calculator helps you estimate the amount of money a home refinancing could save you by comparing the details of your current home loan with new rates, terms and other factors. After trying the calculator, you should have a better understanding of when to refinance your mortgage.
Information provided by Realtor.com
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