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January 6th, 2012 1:03 PM

Rent vs. Own

Property
Purchase Price
Annual Appreciation
Annual Maintenance

Loan Terms
Down Payment
select
Interest Rate
Term (Years)
select

Taxes and Insurance
Tax Rate
Insurance Rate

Comparison
Buyer's Tax Bracket
select
State Tax Bracket
Rent

Rent vs. Own

This shows a buyer the advantages of tax savings, appreciation, and principal reduction to lower the cost of owning a home.

It is suggested that both the buyer and agent agree upon a conservative, realistic estimated appreciation. Tax savings are based on the buyer's marginal tax bracket given to the agent.

Since maintenance would be handled by the landlord if the buyer were renting, an estimate of what might be reasonable maintenance is used.

This is not an offer of credit but is a general illustration of typical mortgage terms and concepts. Joana Hoover-Lampert and RE/MAX Town and Country are not mortgage lenders. You should contact a specific lender to learn more about its mortgage products and your eligibility for such products.
Posted by Joana Hoover-Lampert on January 6th, 2012 1:03 PMPost a Comment (0)
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