Rent vs. Buy Calculator

Am I better off renting or owning? This calculator will show you the financial differences between the two.
$   Current Rent
  % Est. tax bracket
$   Purchase Price
  % Down Payment
  % Interest Rate
    Mortgage Term (Years)
    Your Monthly Payment
$   Yearly Taxes?
$   Yearly Insurance?
    Total PITI
    How long will you own (typ. 7 yrs)

$   This is your rent over the period
$   This is mortgage over the period
Escrow | Print |
Providing valuable resources for our Salt Lake City, UT Real Estate Buyers and Sellers is our top priority.


Buyers and sellers have to deposit documents and money with a neutral third party to be held. When certain conditions agreed upon by both buyer and seller are met, the third party (the "escrow holder") then distributes the documents and the money. 
So after your offer has been accepted, you and the seller must agree on an escrow or settlement company to act as an independent third and ensure that each party receives what is due to them. Since this is a very important task to both you and the seller, you must both agree to the company and the fees they charge.

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Last Updated ( Tuesday, 29 July 2008 )
 
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