How this calculator works
Buying cost = down payment + closing + payments + upkeep − (sale value − remaining balance − selling costs). Renting cost = total rent paid. Investment returns on the down payment are not modeled.
Loans this applies to
First-Time Homebuyer Loans
First-time homebuyer loans are mortgage options with low down payments, typically 3% conventional, 3.5% FHA or $0 VA, often paired with state or local down payment assistance.
FHA Loans
An FHA loan is a government-insured mortgage that allows 3.5% down with a credit score of 580 or higher, or 10% down with a score from 500 to 579.
FAQ
Is the Rent vs Buy Calculator free?
Yes. It is free, needs no sign-up and does not check your credit.
How accurate is the Rent vs Buy Calculator?
It uses the same formulas lenders use, but results are estimates. Your actual terms come from your Loan Estimate or term sheet.
Estimates only, for educational use. Not a loan offer or commitment to lend.