These educational calculators set out to illustrate various mortgage-related scenarios or comparisons and should not be construed as an offer to lend.

Please refer to our formal disclaimer for more information.

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Michael Creed

Branch Manager

NMLS 50441

(262) 293-5144

mcreed@envoymortgage.com

CloseWithMichael.com/GetStarted

The True Cost of Renting vs. Owning
Renting
 
 
Monthly Rent
Monthly Renter's Insurance
 
Owning
 
 
Home Price
Down Payment
Loan Term
 
Annual R.E. Taxes
Homeowner's Insurance
Annual Maintenance
Monthly MI/PMI Factor
Monthly Condo/Coop/HOA
Loan Amount =
Interest Rate

 
Total Monthly =
 
Total Monthly =
Less the following typical benefits of owning
Principal Paid
Tax Savings @
=
Appreciation @
=
 
True Cost =
 
True Cost =


This is not a commitment to lend. Envoy Mortgage Ltd. - NMLS # 6666

The information contained in these calculators and reports are illustrations for informational purposes. The use, presentation or receipt of this information does not constitute an offer to lend, an application nor a Good Faith Estimate pursuant to the Real Estate Settlement Procedures Act, or estimate of fees. Where included, interest rates are subject to change at any time and are not intended to be viewed as the current market rate. Annual Percentage Rates (APR's) can also vary at any time, and are presented as approximations that are generally calculated conservatively and may be higher than the actual current market APR which will be determined and disclosed upon request of a formal Good Faith Estimate or upon application for financing. Every effort has been made to assure the accuracy of the information and mathematical calculations, however, the provider, makes no guarantee and maintains no liability for use of or reliance upon the results. Formulation of a scenario using these tools does not mean that the results are guaranteed. All loan products have guidelines and those rules or tolerances will vary based upon many factors including but not limited to loan to value ratios, income, employment history, debts, assets, creditworthiness and underwriter's review and approval. This is not a lock-in agreement or a commitment to lend.

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