MLS Mortgage Group

	MLS Mortgage Group Phone: 612.789.LOAN (5626) FAX: 612.781.7920 Info@MLSMortgageGroup.com

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Should You Rent Or Buy Your Home?

Let us help you determine if it's better for you to rent or buy your new home. Simply fill in the fields below and click the "Calculate Now!" button. Your results will appear below.

Your Current Situation
Current Monthly Rent Payment:	$
Savings Currently Available to Buy:	$
Type of Loan You Are Interested In
Length of Loan:		years
Interest Rate:		%
Number of Closing Points: (e.g., 2)
Other Closing Costs:	$
Annual Property Taxes:	$
Annual Homeowner's Insurance:	$



Results:
Using your rent payment to pay mortgage, taxes, and insurance, you could get a loan for:	$
Including savings, points, and closing fees, this would allow you to purchase a home that costs:	$
Savings available for a down payment after closing costs and fees:	$
This would give you a down payment % of:

DISCLAIMER: The figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.