Free tool
Rent vs. buy calculator: which costs less for you?
Compare the total rent you'd pay with the real cost of owning after equity, using the rate you were quoted and your own assumptions.
Everything runs in your browser. Nothing you type is sent anywhere or saved. Want me to check real numbers? Send me your Loan Estimate.
Is it better to rent or buy?
Buying usually wins the longer you stay, because you build equity and closing costs get spread over more years. Renting can win for short stays or when prices fall. This tool compares the total rent you'd pay with the net cost of owning after equity, using your own guesses about rent increases and home values.
What this calculator leaves out
It doesn't include investment returns on your down payment, tax effects, or big surprise repairs. Those can swing the answer either way. Treat the result as a starting point for a conversation, not a final answer.
For illustration only. Not a commitment to lend, a Loan Estimate, or an offer of credit. Your actual figures depend on your full application, credit approval, property, and the loan program. John Stafford NMLS #2470539 | GoRascalJohn powered by GoRascal Inc. NMLS #2072896. Equal Housing Opportunity.
Common questions
What appreciation should I use?
Nobody knows future home prices. Try a few values, including zero, and see how sensitive the answer is.
Why include selling costs?
Equity isn't cash until you sell, and selling usually costs agent commissions and closing costs.
Does this include PMI or FHA MIP?
Not separately. Add it to HOA dues as a monthly cost if you want it included.
Free Loan Estimate review
Got a Loan Estimate? Send it to me.
Send me your Loan Estimate and I'll look it over myself. I'll tell you straight what looks off, what looks fine, and whether I can do better. If your offer is solid, I'll say so.
Before you send it: cover your Social Security number and loan number. Texas and Tennessee loans. John Stafford NMLS #2470539 | GoRascalJohn powered by GoRascal Inc. NMLS #2072896.