Renting vs. Buying
The examples below demonstrate how large a mortgage your current rent could support with a down payment of 5%. Your potential purchase price is also shown. |
Your Rent - $ |
Mortgage Amount Rent will Buy - $ |
5% Down Payment - $ |
Potential Purchase Price - $ |
650.00 |
126,705.60 |
6,668.72 |
133,374.32 |
750.00 |
146,198.54 |
7,694.66 |
153,893.20 |
800.00 |
155,945.50 |
8,207.66 |
164,153.16 |
850.00 |
165,691.48 |
8,720.60 |
174,412.08 |
900.00 |
175,438.44 |
9,233.60 |
184,672.04 |
950.00 |
185,185.40 |
9,746.60 |
194,932.00 |
1,000.00 |
194,931.39 |
10,259.55 |
205,190.94 |
1,050.00 |
204,678.35 |
10,772.54 |
215,450.89 |
1,100.00 |
214,425.30 |
11,285.54 |
225,710.84 |
1,200.00 |
233,918.25 |
12,311.49 |
246,229.74 |
1,250.00 |
243,664.23 |
12,824.43 |
256,488.66 |
1,300.00 |
253,411.19 |
13,337.43 |
266,748.62 |
1,400.00 |
272,904.14 |
14,363.38 |
287,267.52 |
1,450.00 |
282,651.09 |
14,876.37 |
297,527.46 |
1,500.00 |
292,367.08 |
15,389.32 |
307,786.40 |
1,600.00 |
311,891.00 |
16,415.32 |
328,306.32 |