We will be closed on Monday, September 7th in observance of Labor Day.

You can make check deposits via our mobile app and access your account online 24/7. For cash withdrawals, you can use any Co-Op Network ATM, click here for the locator.

Skip naviation/go to main content

ONLINE BANKING

Renting vs. Buying

Home > Resources > Calculators > Mortgage Calculators > Renting vs. Buying

Should I rent or buy a home?

The decision to rent versus buy can be difficult. Use this calculator to help determine which makes sense for you at this time.

Rent Assumptions

Monthly rent payment ($)

Additional monthly fees ($)

Monthly renter's insurance premium ($)

Annual rent increases (0% to 10%)

Purchase Assumptions

Purchase price of home ($)

Annual appreciation rate (0% to 10%)

Realtor fees on future sale (0% to 100%)

Amount of loan ($)

Annual interest rate (0% to 40%)

Number of years (1 to 40)

Closing costs (not included in loan amount) ($)

Annual homeowner's insurance premium ($)

Annual property taxes ($)

Annual maintenance cost ($)

Other Assumptions

Number of years for the comparison (1 to 30)

Marginal tax bracket (0% to 75%)

Before tax return on savings (-12% to 12%)

Assumed annual inflation rate (0% to 10%)

On taxes, do you take the standard deduction?

Reset

Rates

Check out our competive loan and savings rates. We make it easy for you to start enjoying the benefits.

Learn More

Member Benefits

Check out the benefits of membership at Michigan Columbus Federal Credit Union.