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Rent or Buy Calculator

The question of whether to rent or buy a home is the classic question often facing first time home buyers. Our rent vs buy calculator will help to answer the question. Once you've answered the question of buying or renting, and if you've decided to buy, the next question is "how big of a mortgage can I afford?" Try our Mortgage Affordability Calculator.

A key consideration in deciding whether to rent or buy is how big your mortgage payment will be. Our Mortgage Payment Calculator will help you figure out how big a payment will be on the size of mortgage you choose.

 Monthly rent: $

 Expected annual inflation rate:

     %

 Purchase price of home:

 $

 Down payment amount:

 $

 Length of mortgage term(years):

     yrs

 Mortgage's annual interest rate:

     %

 Average monthly maintenance:

 $

 Annual property tax:

 $

 Interest rate you expect to earn on savings:

     %

 Expected percentage your home will appreciate by each year:

     %

 Number of years you will stay at this property:

     yrs

 Realtor commission rate:

     %

*The rent or buy calculator is provided as a self-help tool. The results should only be used as a guideline. Contact a Verico Brokers for Life mortgage specialist to clarify some of the issues around renting vs buying.

Verico Brokers For Life
Toll Free 1.866.902.7771

© 2011 Brokers for Life
1144 Wedgewood Blvd.,
Edmonton, Alberta - T6M 2L5

FSCO Brokerage License #12142

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