Interactive mortgage calculator

Mortgage calculator with rent vs. buy comparison

Estimate your monthly payment, compare the cash cost of renting versus buying, and project how each decision could look over time based on your own assumptions.

Loan amount

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Monthly principal & interest

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Estimated monthly home cost

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Monthly rent cost

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Monthly difference

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Projected advantage after —

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Projected outcome over time

Assumes the renter invests the down payment, closing costs, and any monthly savings versus owning.

Buyer proceeds if sold
Renter investment value

Monthly cost breakdown

Estimated monthly ownership costs based on the purchase assumptions above.

At the end of —

Side-by-side estimate for cash spent and assets retained under each option.

Buyer proceeds if sold

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Renter investment balance

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Owner cash spent

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Renter cash spent

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Estimated break-even horizon

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Year-by-year snapshot

Quick look at how each option changes over time.

Year Owner cash spent Buyer proceeds if sold Renter cash spent Renter investment Buy advantage

What this model assumes

  • The monthly mortgage payment uses a standard fixed-rate amortization formula.
  • PMI is included until the estimated loan balance falls below 80% of the original purchase price.
  • The rent comparison assumes the renter invests the down payment, closing costs, and monthly savings versus owning.
  • Home value, rent, and investment growth are modeled monthly from annual assumptions.
  • Taxes, deductions, utility bills, large repairs, and closing-date timing are not included.

Tip

Try changing the comparison period. Buying often looks worse over a short period because of upfront costs, but can catch up over time if appreciation and principal paydown outweigh rent savings.