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    Financial

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    Financial

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    0 views1 page

    Screenshot 2023-04-21 at 5.43.25 PM

    Uploaded by

    54nn26z9kv
    Financial

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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     MENU

    Calculate Your
    Financing
    Options
    The mortgage calculators here are useful tools
    for developing your home financing strategy.
    They can help show how much you may pay for a
    new mortgage and whether options such as debt
    consolidation, prepayment and refinancing can
    benefit you.

    Please note that some of the payment examples


    provided in these calculators do not include
    amounts for taxes and insurance premiums, so
    your monthly payment obligation will be greater.
    For more information or assistance in running
    your numbers, please contact us anytime.


    Mortgage Calculators >
    Rent vs. Own Results

    Monthly Rent: $1,200.00 Should you rent or own? Own

    Home Purchase Price: $340,000.00 Average monthly payment


    $667.24
    increase if owning:
    Down Payment: $20,000.00
    Estimated total gain over 7
    Mortgage Interest Rate: 5% $32,014.72
    years if owning:

    Payment Considerations

    Rent Own
    Initial Rent Payment $1,200.00 -
    Renter's Insurance $30.00 -
    Mortgage Payment - $1,717.83
    PMI (Mortgage Insurance) - $189.33
    Property Taxes - $354.17
    Homeowner's Insurance - $85.00
    Before Tax Monthly Payment $1,230.00 $2,346.33
    Annual Home Maintenance - $1,700.00
    Total Payments Over 7 Years $111,202.99 $208,991.72
    Total Tax Savings Over 7 Years - $41,740.08
    Average After Tax Monthly Payment $1,323.85 $1,991.09

    Investment Considerations After 7 Years


    Estimated Home Selling Price $447,416.81
    Loan Balance $281,424.01
    Estimated Cost to Sell $26,845.01
    Down Payment & Initial Closing Costs With Unearned Interest $51,084.42
    Investment Gain of Owning vs. Renting $88,063.37
    Total Payment Savings of Owning vs. Renting ($56,048.65)
    Total Payment Savings of Renting vs. Owning $56,048.65

    Re-Calculate With New Input Print

    Suzanne Therese Rentas (NMLS ID # 219389


    (www.nmlsconsumeraccess.org) IL:031.0002459) is an agent of Draper and
    Kramer Mortgage Corp. (NMLS:2551) an Illinois Residential Mortgage
    Licensee located at 1431 Opus Place, Suite 200, Downers Grove, IL 60515,
    630-376-2100. IL: Illinois Residential Mortgage Licensee No. MB.0004263 -
    Licensed by the Department of Financial and Professional Regulation,
    Mortgage Banking Division, 100 West Randolph, 9th Floor, Chicago, IL
    60601, (888) 473-4858. © 2023 Draper and Kramer Mortgage Corp. All
    Rights Reserved.

    Site Map | Privacy Policy | Licensing | NMLS Consumer Access

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