Mortgage calculators
  • Avis Mortgage, Inc
    256 Papalaua
    Lahaina, HI 96761

    Tel: 800-711-AVIS (2847)
    Fax: 800-397-2345
    Email: dean@deanrathbun.com
  • Rent vs. Buy

    Input Information
    Rent Info
    Monthly Rent : ($)
    Annual Rent Increase : (%)
    Property Information
    Home Value : ($)
    Annual Maintenance : ($)
    Annual Appreciation : (%)
    Years Before Sell : (Yrs)
    Selling Cost : (%)
    Loan Information
    Amount : ($)
    Interest Rate : (%)
    Length : (Yrs)
    Points : (%)
    Taxes And Insurance Information
    Your Tax Rate : (%)
    Annual Taxes :
    Annual Insurance :
    Annual PMI :
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    Financial Analysis (Switch to Plain English)
      Rent Buy
    Taxes and Insurance : $0.00 $22,500.00
    Total PMI : $0.00 $3,229.17
    Total Maintenance : $0.00 $4,500.00
    Total Payments : $51,996.70 $110,752.41
    Average Monthly Payment : $866.61 $1,845.87
    Monthly Rent Savings : $979.26
    Tax Savings : $0.00 $4,550.00
    Total Rent Savings : $54,205.71
    House Appreciation Value : $382,884.47
    Proceeds Minus Costs : $356,082.56
    Loan Balance : $229,571.83
    Equity Appreciation : $126,510.73
    Home Purchase Benefits : $72,305.01
    Plain English Help (Switch to Financial Analysis)

    Is it financially better to buy a home or to rent? The answer to this question depends upon how much the home costs, how much you are paying for rent, and how much you will have to pay each year in order to maintain your home.

    If you were to pay $800.00 per month, for example, and the average rental payment increase was 4.000%, you would pay $51,996.70 in a 5 year period toward rent. If you purchased a home and borrowed $250,000.00 with a 5.000% interest rate, and you paid $900.00 every year toward its maintenance, you would pay $110,752.41 in a 5 year period toward mortgage payments if your Federal tax rate is 26.000%, you pay $3,000.00 in taxes each year and your annual insurance rate is $1,500.00.

    When you consider your tax benefits and the appreciation of your home, however, you will actually SAVE money by purchasing a home. If your home shows an annual appreciation of 5.000% and your selling cost is 7.000%, your house appreciation value will be $382,884.47. As a result, your total home purchase benefit will amount to $72,305.01.

    DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.