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Mortgage Calculator: buying vs renting

There will come a time when you'll need to decide on whether to rent or buy assets and equipment. You might be ready to make that initial payment, but are you ready to commit to the long haul? Buying certainly has its perks, and financial advisors suggest that individuals do a trial run by saving the expected monthly fees. If they can achieve this, then maybe they are indeed ready to buy property. If you're having difficulty doing all that math right now, then try out our Buy Vs. Rent calculator. Just fill in the blanks, and let this magic tool do the work for you.

    Buy vs. Rent Calculator

    Loan Amount ($)
    Interest Rate (%)
    Years
    Other Monthly Costs
    Your Income Tax Bracket
    Your Tax Filing Status
    Current Monthly Rent
    Other Expenses


    Calculation Results

    Monthly Rent Payment
    Monthly Rent Payment (Tax Adjusted)
    Buy Monthly Payment
    Buy Monthly Payment (Tax Adjusted)
    Monthly Savings
    Monthly Savings (Tax Adjusted)
    Total payment savings (annually)
    Tax Savings (annually)
    Total Annual Savings
    Mortgage Principal Paid