Rent vs. Buy

Question: At what time would you, as a renter, decide to buy? Answer: At a time when it makes better financial sense to buy vs. rent and it supports your lifestyle. Let’s say you are renting in a market where rents have escalated recently and your rent appears to be costing as much or more than a mortgage on a home you could enjoy would cost. Let’s say you have an adequate amount of cash saved for a down payment and the interest you are earning on your investment is low, mortgage interest rates are still relatively low, and home prices are continuing to rise. Your monthly costs would be affordable and you would like to have the tax benefit of owning a home and the ability to experience the appreciation of the rising market. That is the time to buy vs. rent.

I WANT TO KNOW:
Am I qualified?
How much home I can afford?

I WANT TO CALCULATE PAYMENTS FOR:
Fixed rate loans
Adjustable rate loans
Balloon loans

I WANT TO KNOW IF I SHOULD:
Refinance my home mortgage?
Rent or buy a home?
Make extra payments?
Choose a fixed or adjustable rate loan?