Your Information If You Rent A Home

1. Monthly Rent $
2. Monthly Rental Insurance $
3. Estimated Annual Rental Rate Increase Rent typically increases for one of two reasons: inflation or increased value of the rental space. This is estimated at 2-3% per year on average. If you expect a decline in value, enter zero. close 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%

Your Information If You Buy A Home

1. Purchase Price $
2. Estimated Annual Appreciation Rate Appreciation of homes vary dramatically from one geographic area to another. It is advisable to use low appreciation rates, such as 1-2% to review conservative results. If you expect a decline in value, enter zero. close 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%
3. Available Cash for Down Payment
   20%
   $
4. Loan Product For Adjustable Rate products, the rate is fixed for the number of years indicated for the product selected (3, 5, 7 or 10). close 10 Year Fixed 15 Year Fixed 20 Year Fixed 30 Year Fixed 3/1 ARM 5/1 ARM 7/1 ARM
5. Annual Interest Rate The simple interest rate represents the annual cost of borrowing funds. The annual interest rate is not to be confused with the annual percentage rate (APR). The APR includes interest as well as the upfront fees and points you pay for a loan, as well as mortgage insurance (if any). close %
6. Closing Fees/ Discount Points Closing fees can vary from state to state. On average, fees will be 2-3% of your loan amount. Discount point(s) are optional fees that may be paid to the lender to reduce the loan's interest rate. One discount point is equal to 1% of the loan amount. closeHelp me calculate

   Closing Fees/Discount Points

   Closing fees can vary from state to state. On average, fees will be 2-3% of your loan amount. Discount point(s) are optional fees that may be paid to the lender to reduce the loan's interest rate. One discount point is equal to 1% of the loan amount.

   1. Purchase Price
   2. Available Cash for Down payment
   3. Loan Amount
   4. Closing Fees (as percent of Loan Amount) % $0 Number between 0 and 10 please.
   5. Discount Points (as percent of Loan Amount) % $0 Number between 0 and 10 please.
   6. Total Closing Fees and Discount Points $0
   7. Complete Cancel
   $
7. Annual Property Taxes $
8. Annual Homeowner's Insurance Premium $
9. Annual Maintenance Costs Other homeownership expenses may include homeowner's association or condo fees and maintenance costs. close $
10. Selling Costs Selling costs include realtor commission and other fees that you pay when you sell your home. Commissions are often between 3 to 6 percent of the sale price. close %

Other Information

1. Marginal Tax Bracket This is the combined federal and state income tax you pay on your last dollar of income. Common federal tax brackets for many homeowners are 25% and 28%. The actual rate that applies to your deductions may be lower, resulting in lower home-ownership savings than predicted by the calculator. Consult your tax advisor for details. close 10% 15% 25% 28% 33% 35%
2. Annual Interest Rate You Expect to Earn on Savings The savings rate is the yearly interest rate you might expect to earn on your savings. It is used to calculate the opportunity cost of paying closing costs and ongoing principal payments with cash rather than investing this money. close %
3. Years You Expect to Stay in Your Home After Purchase This field is used to help calculate the net benefit of remaining in your home or rental unit during the time period selected. close
4. CalculateReset