BUY OR RENT?
For starters, let’s figure out whether it is better to rent or buy a home.
The New York Times has a great, simple to use calculator to point you in the right direction.
This calculator helps determine the minimum alllowable down payment and maximum FHA mortgage allowed on a home purchase. It creates an estimate of closing costs and required upfront Mortgage Insurance Premium (MIP). It is designed to determine the FHA mortgage limit for a particular purchase, not the maximum allowed for any home in your state and county
Click the Calculator Image at left to use a standard mortgage calculator that also displays total costs over the life of the loan, and PMI.
The BASIC calculator is located on my Home Page.
None of these GUARANTEE you a rate, or payment amount. Please consult with me or a certified accountant to verify any amounts.