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Best Rates

5 Years Variable Rate Closed
2.00%
2 Years
2.14%
1 Year
2.34%
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Averbach 5 Year Anniversary

Rent vs. Buy Calculator

Should you rent or should you buy your home? There are many factors in addition to the cost of a mortgage that you should consider when determining whether you shoud rent or buy. Expenses such as interest payments, property taxes, and closing costs need to be taken into account. You also need to consider propery appreciation, and the investment potential of owning a home. This calculator helps you forecast the real costs of renting vs buying so you can make an informed decision. If you determine that it is in your best interest to purchase a new home, contact Averbach Mortgages for no hasstle help in finding a mortgage that fits your needs.

Monthly rent: $
Expected annual inflation rate: %
Purchase price of home: $
Down payment amount: $
Length of mortgage term(years): yrs
Mortgage's annual interest rate: %
Average monthly maintenance: $
Annual property tax: $
Interest rate you expect to earn on savings: %
Expected percentage your home will appreciate by each year: %
Number of years you will stay at this property: yrs
Realtor commission rate: %

 

If you are a first time home buyer you will have many questions about the home purchasing process. Mike Averbach and Justin Blacklock are fully licensed, independent mortgage broker. Our mission is to make buying a new home as painless as possible by getting you the best mortgage package for the best mortgage rate possible! Contact us today.