Don't Sign Your Lease Until You Do the Math Every mortgage payment builds equity in a home you own, where do your rent payments go?
MONTHLY RENT 1 YEAR 3 YEARS 5 YEARS 7 YEARS $1000 $1200 $1400 $1600 $1800 $12,000 $14,400 $16,800 $19,200 $21,600 $36,000 $60,000 $84,000 $43,200 $50,400 $57,600 $64,800 $72,000 $84,000 $96,000 $108,000 $100,800 $117,600 $134,400 $151,200
Benefits of Owning Your Home
Mortgage interest is tax deductible. *
Make any changes you want, without landlord approval.
Build equity every month, invest in your future.
Increase the value with home improvements.
Never worry about when your lease is up.
*Consult a tax advisor for professional tax advice
Conventional Payments example: If you choose a $250,000, 30 year loan at a fixed of 5.0% (APR 5.1655), with a loan-to-value of 80%, you would make 360 payments of $1,367.38. Payment stated does not include taxes and insurance, which will result in a higher payment.
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