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Rent vs buy Calculator

Deciding between renting and buying a home is a big decision, and many factors influence which will be the better financial choice. This rent vs buy calculator considers the costs and earnings associated with renting and buying to determine which option may save you more money over time.

Home Price
Info
Down Payment
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%
Mortgage interest rate²
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%

Loan term
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Comfortable monthly rentÂł
Info

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It takes as little as 3 minutes. A customizable pre-approval letter helps you make a personalized offer quickly.

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1This calculator and all costs shown are for illustrative purposes only and accuracy is not guaranteed. Your actual qualification, rates and payments will vary depending on timing and your individual circumstances. This is not a commitment to pre-approve or lend. Estimated results do not account for unexpected personal or economic changes.

2Payment Example: An interest rate of 7.62% (7.87% APR) is for the cost of 2.13 points ($3,412) paid at closing. On a $200,000 mortgage, you would make monthly payments of $1,406 for a period of 30 years. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater.

3Cost of Home Renting and Ownership Assumptions: The specified loan term refers to a fixed-rate mortgage. Monthly charges including Homeowners Association (HOA) fees and insurance premiums are assumed to remain constant on an annual basis. The recurring expenses for renting encompass your monthly rent and an annual renter's insurance premium. It's assumed that general inflation, home value appreciation, rent appreciation, and renter's insurance rates remain stable year over year.

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