The choice between buying a home and renting one is one of the biggest financial decisions you will make. The costs of buying are more complicated than for renting making it difficult to recognize which is a better deal. To help you answer this question, our use our mortgage calculator.
By using the calculator, you will be able to analyze the most important costs associated with buying a house. With this information, you will be able to compare your payment with a monthly rent and decide which makes more sense for you.
For example, if you are pay $2200 per month in rent, you will be paying your landlord $132,000 over the next five years. You can compare this by paying the $2200 on a mortgage which goes towards your principal for the loan on a house you will own instead.