To Rent Or To Buy

Dated: 05/07/2017

Views: 49


Buying vs. Renting  

Below shows a cost comparison for a renter and a homeowner over a seven year period.

The renter starts out paying $800 per month with annual increases of 5% The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000

After 6 years, the homeowner's payment is lower than the renter's monthly payment

With the tax savings of homeownership, the homeowner's payment is less than the rental payment after 3 years.


Let me know how I can help you!

Rachel :)


Source: Ginnie Mae(link is external)

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