Home Purchase Home Value($) Yearly Taxes($) Yearly Maintenance($) Yearly Insurance($) Appreciation(%)
Financial Info Loan Amount($) Interest Rate Term in Years Loan Points(%) Loan Costs($) Years Before Sell Selling Costs(%) Annual Savings Rate Tax Rate(%) Single Joint Filing Status
Estimate Taxes Insurance Maintenance
Instructions Enter estimated Rent, Home Purchase, and Financial Information. This calculator analyzes the total cost to rent versus the total cost to own. To estimate taxes, insurance, and maintenance, select appropriate box. Not all calculated values are displayed. Home appreciation and rent increase values vary by area. Results
Explanation A positive/negative Home Purchase Benefit indicates the financial advantage/disadvantage of owning your own home. Various intangible factors can be analyzed in this decision such as relocation possibilities, pride of ownership, improved lifestyle, etc.
These calculations are only estimates and can only be used to evaluate the possible results of consolidating certain debts into an equity loan. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation. Please consult your tax advisor for information on the deductibility if interest for tax purposes.
