Should I Rent or Buy Right Now?

The honest answer isn't always "buy." Compare the true total cost of renting vs. owning over any time horizon — including equity, appreciation, and what happens to your down payment if you invest it instead.

Rent vs. Buy Calculator — LoanSome Dough
Your Situation
How long you plan to stay: 7 years
Buying Scenario
Home Price$420,000
$
$50K$2M
Down Payment$84,000 (20%)
$
Interest Rate6.875%
%
Property Tax Rate1.20%
%
Home Appreciation Rate3.5% / yr
%
0%8%
Annual Maintenance1.00%
%
Renting Scenario
Current Monthly Rent$2,200
$
$500$10K
Annual Rent Increase3.0% / yr
%
Investment Return (on down payment)6.0% / yr
%
Financial Advantage
Buying wins after 7 years
$48,200
net financial advantage of buying vs. renting after 7 years
Buying
$64K
net wealth after 7 yrs
Home equity$182K
Total costs paid-$228K
Appreciation gain+$110K
Renting
$16K
net wealth after 7 yrs
Investment growth$126K
Total rent paid-$194K
Remaining down pmt+$84K
Yearly Comparison
Buy — monthly housing cost$2,872
Rent — current monthly$2,200
Monthly cost difference+$672
Projected home value$530K

This calculator provides estimates for informational purposes only and does not constitute a loan commitment or a pre-approval. Actual qualificiation depends on credit score, lender guidelines and full underwriting review.

Roxy Miles
NMLS#2464939

Complex Loans. Fun Lender.
Self-employed, retired and high-net-worth borrowers who don't fit traditional lending. Bank statement loans, asset depletion, reverse mortgages, jumbo financing and first lien HELOC strategy.