Rent vs Buy ....
The following calculation is designed to show how much you could borrow if you changed your rent payment into a mortgage payment.
Based on a Fixed Rate Mortgage, without mortgage insurance, at the given interest rate and mortgage term. An estimate of real estate taxes and homeowners insurance is also included. This is a very simple calculation illustrating only one type of loan product. There are many more products available which should be considered or which may allow more flexibility.