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Below is an example of a Renting versus Buying Analysis for our clients. If you wish to receive a custom made report for you, contact us today.
| Prepared for: |
Ms. Jane Smith |
| Purchase Price: |
$629,000 |
| Loan Amount: |
$503,200 |
| Down Payment: |
$125,800 |
| Loan Program: |
INTEREST ONLY 5/1 NON-CONF LIBOR |
| ASSUMPTIONS |
| Cash to Close: |
$75,512.07 |
| Down Payment: |
$62,900.00 |
| Estimated Tax Bracket: |
30% |
| Estimated Housing Appreciation Rate: |
5% |
| Estimated Saving Rate: |
3% |
| Proposed Payment: |
$2,463.59 |
| Proposed Interest Rate: |
5.875% |
| Proposed PITI: |
$3769.26 |
| PURCHASE SCENARIO |
| PITI: |
$3,769.26 |
| Less Monthly Tax Savings: |
$912.95 |
| Less Increased Equity Value: |
$2,620.83 |
| Total Monthly Outflow: |
$236.38 |
| RENT SCENARIO |
| Rent (actual or comparative): |
$1,800.00 |
| Less Earnings on Savings: |
$188.78 |
| Plus Taxes on Additional Earnings: |
$56.63 |
| Net Monthly Expenses: |
$1,667.85 |
| SUMMARY |
| Net Monthly Savings (if positive): |
$1,431.48 |
| Months to Calculate Savings: |
12 |
| Total Savings: |
$17,177.73 |
| APR |
5.067% |
This analysis is for illustration purposes.
For down payment less than 20% mortgage insurance (MI) is required
and MI charges apply. Results of the mortgage affordability
are guidelines; the estimate is not an application for credit
and results do not guaranteed loan approval or denial. All loans
are subject to credit and property approval. Program terms and
conditions are subject to change without notice. Not all products
are available in all states or for all loan amounts. Other restrictions
and limitations apply. All content deemed reliable but not guaranteed.
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