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Get a jump-start on the home buying process and be pre-approved before you start shopping. Don’t let your house slip away waiting for financing, get pre-approved.

If you would prefer to speak to someone on the phone about your mortgage options, contact a Financial Partners representative at 515.558.6141.

 
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  Rent Vs. Purchase
 

Owning your own home is a beneficial and comforting part of life. If you are currently renting, you could be wasting hundreds or thousands of dollars a year compared to the financial benefits of owning your home.

The table below is a quick calculator to help determine if buying your home is right for you.

Financial Partners Rent Vs. Purchase
Proposed Mortgage:
Mortgage Rate:
Tax Bracket:
property tax rate:
expected appreciation:
Loan Term In Years:
Current Rent:
Condo Fee:

Results

On an annual basis, buying will cost $ than renting. This is based on financial analysis, which differs from actual cash outlays. Overall, the conclusion is:

Note: This evaluation of the financial advantage or disadvantage of buying a home is based on the assumptions typed in above. Try typing in a different value for "expected appreciation," and then click the Compute button. See how it affects the results. Other assumptions also affect the results. Since nobody knows for certain how much houses will appreciate in your area in the future, it is impossible to be absolutely certain whether renting or buying will be advantageous for you.