BUY OR RENT?
For starters, let’s figure out whether it is better to rent or buy a home. The New York Times has a great, simple to use calculator to point you in the right direction.
This calculator provides the most accurate estimate possible by including the specifics of FHA loans in the calculation:
• Allows for a 3.5% down payment
• Includes monthly mortgage insurance premiums
• Includes upfront mortgage insurance premium as part of the cash to close amount per HUD guidelines
• Allows for 580 credit score
• Uses the 2019 FHA lending limits based on zip code
Click the Calculator Image at left to use a standard mortgage calculator that also displays total costs over the life of the loan, and PMI.
Our BASIC calculator is located on our Home Page.
None of these GUARANTEE you a rate, or payment amount. Please consult with me or a certified accountant to verify any amounts.