Covenant Bank Residential Mortgage Lending

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FAQ

Rent vs. Own Calculator

To estimate the benefits of owning a home as opposed to renting, fill in the form below and click the Calculate button.


Rent Information:
Monthly Rent	$
Expected Annual Rent Increase	%
Purchase Information:
Purchase Price	$
Down Payment %	%
Interest Rate	%
Term (years)	years
Closing Costs (as % of loan amount)	%
Home Ownership Information:
Annual Appreciation on Home (%)	%
How Long Before Selling?	years
Other Financial Information:
Annual Interest Rate Currently Earned on Down Payment	%
Income Tax Rate	%