Rent vs Buy Chart

[av_heading tag=’h2′ padding=’10’ heading=’RENT VS BUY CHART’ color=” style=’blockquote modern-quote’ custom_font=” size=’35’ subheading_active=’subheading_below’ subheading_size=’15’ custom_class=”] Below is a snapshot of what a monthly mortgage would be for the indicated home prices including the principal and interest based on the current 4.5% interest rate. [/av_heading] [av_textblock size=” font_color=” color=”]

You also need to figure in your taxes and insurance to your monthly payment. Taxes are roughly 2% of the purchase price and insurance depends on where you are (review the new flood zone areas) and how much insurance you want for your contents. As a general guideline add in about ½ of the mortgage payment to cover taxes and insurance. For your total monthly housing cost, guesstimate your utilities and add that number in. It is always best to figure worst case scenario and be pleasantly surprised at the real numbers!

[/av_textblock] [av_section min_height=” min_height_px=’500px’ padding=’default’ shadow=’no-shadow’ bottom_border=’no-border-styling’ id=” color=’main_color’ custom_bg=’#cf1b15′ src=” attachment=” attachment_size=” attach=’scroll’ position=’top left’ repeat=’no-repeat’ video=” video_ratio=’16:9′ overlay_opacity=’0.5′ overlay_color=” overlay_pattern=” overlay_custom_pattern=”] [av_table purpose=’pricing’ pricing_table_design=’avia_pricing_default’ pricing_hidden_cells=” caption=” responsive_styling=’avia_responsive_table’] [av_row row_style=”][av_cell col_style=”]Loan Amount [/av_cell][av_cell col_style=”]Mortgage[/av_cell][av_cell col_style=”]Taxes/Insurance Est.[/av_cell][av_cell col_style=”]Total Monthly Payment [/av_cell][av_cell col_style=”](Add Utilities)[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]$100,000[/av_cell][av_cell col_style=”]$506.96[/av_cell][av_cell col_style=”]$253.41[/av_cell][av_cell col_style=”]$760.03[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]$150,000[/av_cell][av_cell col_style=”]$760.05[/av_cell][av_cell col_style=”]$380.02[/av_cell][av_cell col_style=”]$1140.07[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]$200,000[/av_cell][av_cell col_style=”]$1013.37[/av_cell][av_cell col_style=”]$506.68[/av_cell][av_cell col_style=”]$1520.05[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]250,000[/av_cell][av_cell col_style=”]1266.71[/av_cell][av_cell col_style=”]$633.60[/av_cell][av_cell col_style=”]$1900.07[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]$300,000[/av_cell][av_cell col_style=”]$1520.06[/av_cell][av_cell col_style=”]$760.03[/av_cell][av_cell col_style=”]$2280.09[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]$350,000[/av_cell][av_cell col_style=”]$1773.40[/av_cell][av_cell col_style=”]$886.70[/av_cell][av_cell col_style=”]$2660.10[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]$400,000[/av_cell][av_cell col_style=”]$2026.74[/av_cell][av_cell col_style=”]$1013.37[/av_cell][av_cell col_style=”]$3040.11[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]$450,000[/av_cell][av_cell col_style=”]$2280.08[/av_cell][av_cell col_style=”]$1140.04[/av_cell][av_cell col_style=”]$3420.12[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [av_row row_style=”][av_cell col_style=”]$500,000[/av_cell][av_cell col_style=”]$2533.43[/av_cell][av_cell col_style=”]$1266.72[/av_cell][av_cell col_style=”]$3800.15[/av_cell][av_cell col_style=”]________________[/av_cell][/av_row] [/av_table] [/av_section] [av_textblock size=” font_color=” color=”] Of course, a down payment is necessary. You can now get loans with a 5% down payment depending on your credit. VA and FHA are even lower. It makes so much more sense to pay your own mortgage rather than your landlord’s! [/av_textblock] [av_button label=’Find a House’ link=’manually,http://experts.kwrealty.com/search/’ link_target=” size=’large’ position=’center’ icon_select=’yes’ icon=’ue821′ font=’entypo-fontello’ color=’dark’ custom_bg=’#444444′ custom_font=’#ffffff’] [av_section min_height=” min_height_px=’500px’ padding=’default’ shadow=’no-shadow’ bottom_border=’no-border-styling’ id=” color=’alternate_color’ custom_bg=” src=” attachment=” attachment_size=” attach=’parallax’ position=’center center’ repeat=’no-repeat’ video=” video_ratio=’16:9′ overlay_enable=’aviaTBoverlay_enable’ overlay_opacity=’0.3′ overlay_color=’#ffd3d3′ overlay_pattern=” overlay_custom_pattern=”] [av_one_half first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’] [av_comments_list] [/av_one_half][av_one_half min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’] [av_social_share title=’Was this useful? Share it! ‘ style=” buttons=’custom’ share_facebook=’aviaTBshare_facebook’ share_twitter=’aviaTBshare_twitter’ share_gplus=’aviaTBshare_gplus’ share_linkedin=’aviaTBshare_linkedin’ share_mail=’aviaTBshare_mail’] [av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′] [av_blog blog_type=’posts’ categories=’5′ link=’category’ blog_style=’single-big’ columns=’3′ contents=’excerpt’ content_length=’content’ preview_mode=’auto’ image_size=’portfolio’ items=’3′ offset=’0′ paginate=’yes’] [/av_one_half] [/av_section]

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