| |
Calculators- Rent vs. Buy
Should I continue renting or should I buy a house? This calculator has the answer. Some of the main benefits of owning a home such as appreciation and tax savings along with the expenses of maintenance and property taxes are all included in this calculation providing an accurate estimate.
- Principal and Interest Rate
This calculates the monthly principal and interest due on your loan. It is important to note that this is not your total monthly payment. To calculate your total monthly payment, there are additional monthly expenses that must be added to the monthly principal and interest such as: monthly property taxes, home insurance, mortgage insurance and home owners association (HOA) fees (not all fees will apply to every property).
- Interest Only
An interest only loan may be an option for those looking for a lower monthly payment than the above principal and interest payment. This calculates only the monthly interest due on the loan, decreasing your payments by eliminating the principal.
|
|
