Rent versus Buy Calculator
Loanshoppers provides potential borrowers this calculator to analyze in plain view the actual numbers of how much you would be saving with a mortgage payment by buying a home compared to renting.
How much would you save over the life of a mortgage compared to renting for that same time period?
| Estimated cost of renting: | $597,949.62 |
|---|---|
| Estimated gross costs of buying: | $382,706.50 |
| Estimated tax savings: | $60,425.67 |
| Estimated increase in equity: | $232,200.00 |
| Estimated net cost of buying: | $90,080.83 |
| Estimated investment-related savings: | $40,629.50 |
| Estimated total savings: | $507,868.79 |
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