Payment & Amortization Calculator

The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.

Rent vs. Own Calculator

Should you Rent or Own?



Rent vs. Own Results

Monthly Rent: $1,000.00
Home Purchase Price: $100,000.00
Down Payment: $0.00
Mortgage Interest Rate: 5.00%
Should you rent or own? Own
Average monthly payment savings if owning: $553.18
Estimated total gain over 7 years if owning: $76,138.72
Payment Considerations Rent Own
Initial Rent Payment $1,000.00
Renter’s Insurance $30.00
Mortgage Payment $536.82
Property Taxes $104.17
Homeowner’s Insurance $25.00
Before Tax Monthly Payment $1,030.00 $665.99
Annual Home Maintenance $500.00
Total Payments Over 7 Years $93,089.16 $59,443.02
Total Tax Savings Over 7 Years $12,820.69
Average After Tax Monthly Payment $1,108.20 $555.03
Investment Considerations After 7 Years
Estimated Home Selling Price $131,593.18
Loan Balance $87,945.02
Estimated Cost to Sell $7,895.59
Down Payment & Initial Closing Costs With Unearned Interest $6,080.68
Investment Gain of Owning vs. Renting $29,671.89
Total Payment Savings of Owning vs. Renting $76,138.72
Combined Gain of Owning vs. Renting $46,466.83

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