Your numbers
Enter your own numbers. Nothing is pre-filled, and every result is an estimate for discussion, not a loan offer.
$/ mo
Use the rent alone, without utilities you'd also pay as an owner.
Loan type
%
%
Loan term
Enter the rate from a lender quote.
Taxes, insurance & assumptions
% / yr
$/ yr
Tax is a share of the purchase price. Centre County bills on base-year assessed values, so the true rate varies widely by municipality and school district.
$/ mo
% / yr
% / yr
% / yr
years
% of price
Your monthly rent would cover the full payment on a home priced around
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Loan amount$0
Down payment$0
Cash to close, est.$0
Where the payment goes
Same payment, two paths: 7 years out
Keep renting
$0
total rent paid, with nothing owned
- Rent in year 7 $0
- Equity $0
Buy
$0
estimated equity, before selling costs
- Principal paid down $0
- Value growth $0
- Principal & interest $0
Owner's equityCumulative rent paid
Show year-by-year table
Principal and interest stay fixed for the life of the loan. Taxes and insurance can rise over time; this comparison holds them at today's amounts.
How these numbers are built
- The calculator solves for the price where principal + interest + property tax + homeowners insurance + mortgage insurance + HOA equals your rent.
- Conventional: PMI applies below 20% down, at the rate you enter. Minimum 3% down.
- FHA: 1.75% upfront MIP financed into the loan; annual MIP set by term, loan-to-value and base loan amount (0.55% for most 30-year loans under $726,200 with 3.5% down). Minimum 3.5% down.
- VA: funding fee financed into the loan: first use 2.15% (under 5% down), 1.5% (5%+), 1.25% (10%+); subsequent use 3.3% under 5% down. No monthly mortgage insurance.
- USDA: 1% upfront guarantee fee financed; 0.35% annual fee. Property location and household income limits apply.
- This is an estimate, not a loan offer or pre-approval. Lenders also weigh income, debts, credit and reserves, and those can set a lower ceiling than your rent does.
Sources: Freddie Mac PMMS · VA funding fee · HUD Mortgagee Letter 2023-05 (FHA MIP) · USDA guaranteed loans