Personal Picture
Maria Tompson
Sales Representative
Your Company Name, Brokerage
Independently owned and operated.
sales@bestforagents.com

header Rent vs. Buy

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes, and monthly payments to make a good financial decision.

If Buying
Purchase Price of Home: $
Downpayment: $
Amortization Period: years
Interest Rate: %
CMHC Rate: %
Buying Closing Cost: $
Monthly Maintenance/Condo Fees: $
Annual Property Taxes: $
Annual Homeowners Insurance: $
Home Appreciation Rate: %
Years Before Selling: years
Selling Costs (As percentage of price): %
Inflation Rate: %
If Renting
Monthly Rent: $
Monthly Content Insurance: $
Annual Rent Increase (by percentage): %
 
Interest is compounded semi-annually not in advance. The Interest rate is fixed for the term of the mortgage. The interest rate is usually renegotiated at the end of the term of the mortgage.

In this calculation, "Inflation Rate" applies on property tax, maintenance fee, condo fee and CMHC (mortgage insurance) which adds up to mortgage amount. Closing Cost may include Land Transfer Tax (property tax) and lawyer costs. TMI stands for Tax, Maintenance and Insurance.

This calculator is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.

 

 

go to home go to searchgo to tips go to buying a home

Become A Member
Name:
 
Email:
Short Message:
Subscribe me:
Security Code:
All Open Houses
No open-house available.

Mortgage Rate
Canadian Mortgages
Office: 416-548-7854       Mobile: 416-548-7854      Fax: 416-981-7184         Toll Free: 1-866-382-2968
Office Address 4711 Yonge Street, 10th Floor, Toronto, Ontario M2N 6K8
Please note that content and information contained in this website is for demonstration purposes only and this website is trial website or test website and it can not be used for marketing purposes.