Rent vs Buy Calculator

🏠 Home Purchase

Purchase Month & Year

Home Price ($)

Down Payment

Mortgage Interest Rate (%)

Loan Term (years)

Custom Monthly Payment ($ - Optional)

Closing Costs on Purchase (%)

Selling Costs (%)

Home Appreciation Rate (%)

Investment Return on Savings (%)

🧾 Property Tax

Property Tax

Property Tax Inflation (%)

🛡️ Home Insurance

Home Insurance

Insurance Inflation (%)

🏘️ HOA Fees

HOA Fees (Monthly $)

HOA Inflation (%)

🛠️ Maintenance

Maintenance

Maintenance Inflation (%)

💡 Additional Principal Payments

Annual extra payments. A new row appears after each entry. Payments apply in the selected month (e.g., Year 1, Month 12 = 12th month of ownership).

Tip: Making extra payments on your mortgage - whether from a bonus, tax refund, or any additional income - can reduce your interest costs and significantly shorten the length of your loan.

Recurring annual extra payment until loan payoff

Applied each year on the selected month until balance reaches $0.

🏢 Rental Details

Monthly Rent ($)

Annual Rent Increase (%)

⌛ Years Owned

Years Owned

💰 Tax Benefit (not included)

Heads up: This calculator does not include any potential tax savings from itemizing your deductions. Results below assume the standard deduction and exclude any incremental tax benefit from owning a home.

To see whether your home purchase could reduce your taxes, use the Homebuyer Tax-Benefit Calculator.

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