Buying vs. Renting Use the calculator below to compare the advantages and considerations of owning vs. renting a home. Current Rent: $1,300 Purchase Price of Home: $182,941 Percentage of Down Payment: 10% Length of Loan Term (years): 30 Interest Rate: 3.5% Years You Plan to Stay in This Home: 10 Yearly Property Tax Rate: 0.5% Yearly Home Value Appreciation/Depreciation (use a negative number for depreciation): 2.7% Refresh Recalculate NOTE: This calculator is best viewed with a browser such as Internet Explorer, Netscape 6 or greater, or Firefox. Users with other browsers are advised that they may or may not be able to execute the full functionality of this calculator. Previous PRIVACY POLICY HOME | ABOUT GINNIE MAE | FOR ISSUERS | FOR INVESTORS HOMEOWNERSHIP GUIDE AND CALCULATORS | HOMEZONE (KIDS' SITE) Result Returned: Rent Buy Price of Home After Appreciation or Depreciation: $238,789 Remaining Balance After Years: 10 $127,529 Equity Earned: $111,260 Tax Savings (at 28%): $18,696 Avg. Monthly Payment Over Time: $1,446 $105 Total Payment: $173,520 $12,619 Total Savings On: Buying: $160,901 Note: The calculator above uses these items in its calculations: private mortgage insurance, homeowner's insurance cost, loan closing cost, cost of selling a home, property tax, homeowner's tax saving, and rent increases. Calculator results are estimates only. Page 1 of 1 Ginnie Mae: Your Path to Homeownership 10/4/2012 http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?section=YPTH
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Buying vs. Renting
Use the calculator below to compare the advantages and considerations of owning vs. renting a home.
Current Rent: $1,300
Purchase Price of Home: $182,941
Percentage of Down Payment: 10%
Length of Loan Term (years): 30
Interest Rate: 3.5%
Years You Plan to Stay in This Home: 10
Yearly Property Tax Rate: 0.5% Yearly Home Value Appreciation/Depreciation(use a negative number for depreciation): 2.7%
Refresh Recalculate
NOTE: This calculator is best viewed with a browser such as Internet Explorer, Netscape 6 or greater, or Firefox. Users with other browsers are advised that they may or may not be able to execute the full functionality of this calculator.
Previous
PRIVACY POLICY
HOME | ABOUT GINNIE MAE | FOR ISSUERS | FOR INVESTORS
HOMEOWNERSHIP GUIDE AND CALCULATORS | HOMEZONE (KIDS' SITE)
Result Returned: Rent Buy
Price of Home After Appreciation or
Depreciation:$238,789
Remaining Balance After Years:10 $127,529
Equity Earned: $111,260
Tax Savings (at 28%): $18,696
Avg. Monthly Payment Over Time: $1,446 $105
Total Payment: $173,520 $12,619
Total Savings On: Buying: $160,901
Note: The calculator above uses these items in its calculations: private mortgage
insurance, homeowner's insurance cost, loan closing cost, cost of selling a home,
property tax, homeowner's tax saving, and rent increases. Calculator results are
Appreciation estimate based on treasury yield and inflation.
Clint Hammond
Typewritten Text
Net worth increase with all the expenses and cost of home ownership included.....
Buying vs. Renting
Use the calculator below to compare the advantages and considerations of owning vs. renting a home.
Current Rent: $1,300
Purchase Price of Home: $182,941
Percentage of Down Payment: 10%
Length of Loan Term (years): 30
Interest Rate: 3.5%
Years You Plan to Stay in This Home: 5
Yearly Property Tax Rate: 0.5% Yearly Home Value Appreciation/Depreciation(use a negative number for depreciation): 2.7%
Refresh Recalculate
NOTE: This calculator is best viewed with a browser such as Internet Explorer, Netscape 6 or greater, or Firefox. Users with other browsers are advised that they may or may not be able to execute the full functionality of this calculator.
Previous
PRIVACY POLICY
HOME | ABOUT GINNIE MAE | FOR ISSUERS | FOR INVESTORS
HOMEOWNERSHIP GUIDE AND CALCULATORS | HOMEZONE (KIDS' SITE)
Result Returned: Rent Buy
Price of Home After Appreciation or
Depreciation:$209,008
Remaining Balance After Years:5 $147,706
Equity Earned: $61,302
Tax Savings (at 28%): $9,348
Avg. Monthly Payment Over Time: $1,361 $259
Total Payment: $81,660 $15,573
Total Savings On: Buying: $66,087
Note: The calculator above uses these items in its calculations: private mortgage
insurance, homeowner's insurance cost, loan closing cost, cost of selling a home,
property tax, homeowner's tax saving, and rent increases. Calculator results are
....even after only 5 years, $66k of additional savings. Imagine if you invested that savings and earned even a minimal 1-2% APY?
Buying vs. Renting
Use the calculator below to compare the advantages and considerations of owning vs. renting a home.
Current Rent: $1,300
Purchase Price of Home: $182,941
Percentage of Down Payment: 3.5%
Length of Loan Term (years): 30
Interest Rate: 3.25%
Years You Plan to Stay in This Home: 10
Yearly Property Tax Rate: 0.5% Yearly Home Value Appreciation/Depreciation(use a negative number for depreciation): 0%
Refresh Recalculate
NOTE: This calculator is best viewed with a browser such as Internet Explorer, Netscape 6 or greater, or Firefox. Users with other browsers are advised that they may or may not be able to execute the full functionality of this calculator.
Previous
PRIVACY POLICY
HOME | ABOUT GINNIE MAE | FOR ISSUERS | FOR INVESTORS
HOMEOWNERSHIP GUIDE AND CALCULATORS | HOMEZONE (KIDS' SITE)
Result Returned: Rent Buy
Price of Home After Appreciation or
Depreciation:$182,941
Remaining Balance After Years:10 $135,500
Equity Earned: $47,441
Tax Savings (at 28%): $18,625
Avg. Monthly Payment Over Time: $1,446 $537
Total Payment: $173,520 $64,502
Total Savings On: Buying: $109,018
Note: The calculator above uses these items in its calculations: private mortgage
insurance, homeowner's insurance cost, loan closing cost, cost of selling a home,
property tax, homeowner's tax saving, and rent increases. Calculator results are
Use the calculator below to compare the advantages and considerations of owning vs. renting a home.
Current Rent: $1,300
Purchase Price of Home: $182,941
Percentage of Down Payment: 3.5%
Length of Loan Term (years): 30
Interest Rate: 3.25%
Years You Plan to Stay in This Home: 3
Yearly Property Tax Rate: 0.5% Yearly Home Value Appreciation/Depreciation(use a negative number for depreciation): 0%
Refresh Recalculate
NOTE: This calculator is best viewed with a browser such as Internet Explorer, Netscape 6 or greater, or Firefox. Users with other browsers are advised that they may or may not be able to execute the full functionality of this calculator.
Previous
PRIVACY POLICY
HOME | ABOUT GINNIE MAE | FOR ISSUERS | FOR INVESTORS
HOMEOWNERSHIP GUIDE AND CALCULATORS | HOMEZONE (KIDS' SITE)
Result Returned: Rent Buy
Price of Home After Appreciation or
Depreciation:$182,941
Remaining Balance After Years:3 $165,592
Equity Earned: $17,349
Tax Savings (at 28%): $5,587
Avg. Monthly Payment Over Time: $1,330 $788
Total Payment: $47,880 $28,377
Total Savings On: Buying: $19,503
Note: The calculator above uses these items in its calculations: private mortgage
insurance, homeowner's insurance cost, loan closing cost, cost of selling a home,
property tax, homeowner's tax saving, and rent increases. Calculator results are
Even less time in the home? Only 3 years...a time frame for someone in school or grad school? AND 0% appreciation over those 3 yrs?
Clint Hammond
Typewritten Text
STILL MAKES SENSE TO BUY! With rates where they are and home prices where they are, there is literally zero reason that someone who can buy shouldn't buy.