Should I Rent or Own?

Step 1: Enter the price of the home you are considering: $

Step 2: Enter the amount you will be putting down on the home: $
(This is the cash that you will be investing in your home):

The amount you will be financing is $.

Step 3: Select the type of home you are considering:

With a -year conventional loan and an interest rate of , your monthly payment will be $ (This includes Principal, Interest, Property Taxes, and Insurance, plus mandatory Private Mortgage Insurance when downpayment is less than 20%)

Step 4: Select your federal income tax bracket

(This is needed to calculate costs that are tax deductible):

Step 5: Enter the number of years that you will likely stay in this home:

We'll use this time period to do the comparison between renting and owning.

Using this information, let's look at how owning compares to renting.

This page courtesy of

Randy Landis
Exit Realty Premier

Contact

605 W. Main Street
Tupelo, MS

Office: (662) 842-7653
Fax: (662) 842-7012

http://tupeloexit.com

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