Rent vs. Buy Calculator
Compare the Costs of Renting vs. Buying a Home
With the steady rent increases in our area, purchasing a home may be a more reasonable option. There are several factors that influence your decision, some of which are financial, such as future interest rates, the total monthly payment, or your available funds for down payment. Others can be more personal, such as the pride of homeownership, your family needs, as well as what you feel will improve your quality of life.
To get an estimate of how the costs of renting and buying measure up in your specific case, fill out the information below to the best of your knowledge. If you’re unsure of any of the information or would like more personalized data and guidance, contact a loan officer at Park Cities Mortgage today.
Keep in mind that this is only an estimate. Your actual payment will depend on the mortgage option that you choose, the interest rate that you qualify for, as well as the down payment amount that you are contemplating. Remember to consider the impact property taxes and homeowner’s insurance premiums have on a total monthly payment. A payment is more than just principal and interest.
Could Buying a Home Make Economic Sense in the Long Run?
The financial details of purchasing a home involve closing costs, homeowner’s insurance premiums, and projected future property tax costs. These are important details to consider when purchasing a home, and an experienced loan officer such as those at Park Cities Mortgage can help you with these details. Rely upon us to help you make that sound decision.
Still not sure if you should rent or buy? Then get in touch with a Park Cities Mortgage team member for experienced insights and guidance. Our custom-fit, hands-on approach is just one of the many things that make us one of the most recognized mortgage lenders in North Texas.