Intercoastal

Rent vs. Buy |

Rent vs. Buy

Please fill in items 1-9 to calculate your tax benefits as a home owner. Please do not use commas when entering in your information.

1. Sales Price:

2. Loan Amount:

3. Annual Real Estate Taxes:

4. Interest Rate(%):

5. Rent:

6. Annual Income:

7. Tax Bracket(%):

8. Condo(Y or N):

Yes No

9. Condo or HOA Fee:

Please click on the "Get Results" Button to the right to begin your calculations. Then, see your results below.

"Actual" Payment Comparison

OWN

RENT

Principle & Interest - 1st Trust:

Monthly Taxes:

Monthly Mortgage Ins:

Monthly Condo Fee or HOA Fee:

Monthly Hazard Insurance:

TOTAL MONTHLY PAYMENT:

Tax Benefits as a Homeowner

Annual Interest Write-Off

Annual Real Estate Write Off

*TOTAL ANNUAL WRITE-OFF

* (You may deduct this amount from your annual income when figuring your taxes)

Based on an Annual Write-Off of:

And a Tax Bracket of:

**your monthly savings would be:

** (You can instruct your employer to deduct less taxes from your paycheck and you can increase your monthly take-home pay by this amount)

"Net" Payment Comparison

Monthly Payment:

Less Tax Savings:

-$0

Your Real Monthly Payment, net of tax savings:

In addition, part of your monthly mortgage payment is "principal" which is money that is building equity in your home. The average amount of principal per payment during the first year is...