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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Benjamin Hulshof

Windmill Mortgage Services LLC

President/Mortgage Consultant

NMLS 216697 | LO.02757.000

(614) 689-8440

Today's Rate or Tomorrow's Price
Is it cheaper to wait for a lower home price tomorrow or to lock in a lower mortgage rate today?
Use this calculator to compare a home purchased at the current price to the same home one year from now at a lower price, yet potentially higher rate.
Enter Today's Home Price less a drop in value =
Enter the Down Payment Factor - Same dollar amount will be applied to both scenarios.
Down Payment Percentage =
Dollars Down
Loan Amount will Equal
Enter Rates and Loan Term - Today's rate and your expectation for rates one year from now
Interest Rate
Loan Term
Monthly Principal & Interest
Enter the Property Expenses
Annual R.E. Taxes
Hazard Insurance
Grand Total Monthly Payment
Monthly Payment Difference =
Enter the Cost of Renting the Same Home and Compare the Annual Expense
Total Payments at 12 months per month for rent =
Calculate Totals for any Number of Years Years to calculate for =   
Total Interest Paid
Total Payments Made
Total Principal paid
Total Cost (payments - principal paid)
Total Cost Difference =
As you can see, with rates rising, waiting can have its own cost. This can be true even if the price you pay for a home next year is less than it is this year. In many areas, it's now less expensive to finance a home than it is to rent one. Taking action while there are still abundant sellers that may also be concerned about lower prices can allow you to strike a great deal right now. Once that attitude turns and especially if rates increase too, the cost of buying a home may begin to rise at a pace that some of us will no longer be able to afford.

The information contained in these calculators and reports is for informational purposes only. The use, presentation or receipt of this information does not constitute an offer to lend, an application, a Good Faith Estimate, 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 (APRs) can also vary at any time and are presented as approximations. APRs shown here 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.

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