Serving New York - Located on Long Island NY
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Buy vs. Rent Calculator

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 help you make a good financial decision. Click the "View Report" button for a detailed look at the results.

Monthly rent ($):
Monthly rental insurance ($):
Expected annual inflation rate (%):
Purchase price of home ($):
Down payment amount ($):
Length of mortgage term (# of years):
Mortgage's annual interest rate (%):
Discount points on purchase of home (%):
Origination fees (%):
Other loan costs ($):
Mortgage Insurance (PMI %):
Homeowner's insurance rate (%):
Monthly association dues ($):
Average monthly maintenance ($):
Annual property tax ($):
State plus Federal income tax rate (%):
Interest rate you expect to earn on savings (%):
Expected percentage your home will appreciate by each year (%):
Number of years you will stay at this property:
Realtor commission rate (%):
Total estimated cost of renting:
Total estimated cost of buying:
Click on the "Create Detailed Printer-Friendly Report" button to create a report you can print out. Please allow up to 1-2 minutes for the report to process.

Disclaimer: These calculations are only estimates and should not be used to determine actual loan costs. We encourage you to seek personalized advice from qualified Artisan Mortgage professionals regarding all personal mortgage issues.

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Rating: 5.0 - 148 reviews

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Specialties

  • Home Purchase and Refinance Loans
  • FHA, VA, USDA and Conventional Loans
  • Fixed and Adjustable Rate ARM
  • FHA 203k Rehab
  • First Time Home Buyer Loans
  • Reverse Mortgages
  • Home Affordable Refinance Programs (HARP)
  • Home Equity Loan
  • Bad Credit Programs
  • Construction & Renovation

Accreditation & Awards

  • A+ Rating with Beter Business Bureau (BBB)
  • Over 19 years of experience
  • Voted The Best Mortgage Company on Long Island
  • New York Association of Mortgage Brokers NYAMB
  • National Association of Mortgage Brokers NAMB