Republic Mortgage - Corporate Office - Providing mortgage loans and information in UT

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Should I Buy or Rent?

Rent Information
Monthly Rent($)
Monthly Insurance($)
Annual Rent Increase(%)

Home Purchase
Home Value($)
Yearly Taxes($)
Yearly Maintenance($)
Yearly Insurance($)
Appreciation(%)

Financial Info
Loan Amount($)
Interest Rate
Term in Years
Loan Points(%)
Loan Costs($)
Years Before Sell
Selling Costs(%)
Annual Savings Rate
Tax Rate(%)
Single Joint Filing Status

Estimate Taxes Insurance Maintenance

Instructions

Enter estimated Rent, Home Purchase, and Financial Information. This calculator analyzes the total cost to rent versus the total cost to own. To estimate taxes, insurance, and maintenance, select appropriate box. Not all calculated values are displayed. Home appreciation and rent increase values vary by area.

Results

Rent Analysis
Years to Rent:	5
Total Rent and Insurance:	$46,550
House Purchase Equivalent:	$140,588



Home Analysis
Monthly Mortgage Payment (PI):	$959.28
House Appreciation Value:	$255,256
Proceeds Minus Costs:	$237,388
Loan Balance:	$148,887
Equity Appreciation:	$48,501

Home Ownership Analysis
Mortgage Payments:	$57,557
Taxes and Insurance:	$6,250
Maintenance:	$3,750
Tax Savings:	$8,244
Ownership Investment:	$55,563

Rent vs Buy Analysis
Monthly Rent Savings:	$150.22
Total Rent Savings:	$11,845


Home Purchase Benefit:	$36,656

Explanation
A positive/negative Home Purchase Benefit indicates the financial advantage/disadvantage of owning your own home. Various intangible factors can be analyzed in this decision such as relocation possibilities, pride of ownership, improved lifestyle, etc.

These calculations are only estimates and should not be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.

Reverse Mortgages	Videos
Special financing for our senior home owners read more >	Click here to view a brief video for an introduction to the mortgage process view video >