Chris Hageman
DeLex Realty
Rent vs. Own
Should you keep renting, or buy?
Compare your current rent with an estimated home payment, and see how renting and owning may compare over time.
What you pay today, so the comparison starts from your real situation.
The price you are comparing against, not a pre-approval amount.
Financing
Programs differ in down payment, mortgage insurance, and who is eligible. This tool models the payment, not whether you qualify.
Reference rate 6.365% (August 14, 2026)
Mortgage rates last updated: August 14, 2026
Where this rate comes from
Reference APR: 6.739%
APR is shown for comparison only and is not used to calculate the payment. This is not a rate quote. Rates, APR, pricing, eligibility, fees, and terms may change and must be confirmed by a licensed lender.
Estimated carrying costs
This is a general starting estimate. Actual property taxes depend on the specific property, assessed value, exemptions, and taxing districts.
Property tax is specific to the parcel and the taxing authority. The figure here is a placeholder until you look up the actual assessment.
This is a starting estimate only. Actual premiums depend on the property, coverage, deductible, claims history, insurer, and other factors.
An insurer prices this on the property and on you. It is a quote you obtain, not a percentage this calculator can derive.
More options and how this works— mortgage insurance, HOA, program details · mortgage insurance not estimated
The most common loan type. This calculator models conventional financing directly.
- Some conventional programs may allow around 3% down for eligible borrowers.
- 5% is a common starting point for comparison.
- 10% and 20% reduce the loan amount and the monthly payment.
- Mortgage insurance may apply when the down payment is under 20%.
- Eligibility and actual terms must be confirmed by a lender.
Mortgage insurance cannot be estimated from a percentage of the purchase price. Enter the monthly amount your lender quotes — this calculator will not invent one.
Leave at $0 if the home has no HOA. Ask about the amount before making an offer — it changes the payment.
Estimated Monthly Payment
- Principal & interest
- Property taxes
- Homeowners insurance
$2,400 current rent ·+$519 vs. rent
This estimate is incomplete. Mortgage insurance may apply. This estimate currently excludes it, so the actual payment may be higher.
Still to come
- Your complete payment breakdown, line by line
- What you would need at closing
- Renting versus owning, side by side
- Where you stand each year, year 1 to 15
How does this look in 15 years?
Unlock the full rent-versus-own comparison, see the year you break even, and follow how equity builds against what renting costs over the same period. You get your own link to it that stays open for 30 days — no account, no password.
- Renting and owning side by side, year by year
- The year the comparison turns in your favour
- Equity built against rent paid
- A printable comparison you can keep
Two details and your full breakdown opens right here. No account, no password.
These figures are estimates for discussion only. They are not an offer, a quote, a loan approval, or a guarantee, and actual amounts will differ.
This is not a Loan Estimate, a Closing Disclosure, or an underwriting decision. Financing terms come from a lender, not from this tool.