Are you currently renting and thinking about buying a home? There are a lot of factors that go into this decision, starting with affordability. Our calculator helps you compare the cost between renting and buying, making it easier to see which option may be best for you.
Buy vs Rent
What's right for you?
Should you buy or rent a home?
With a steady income, good credit score, manageable debt, some savings, and you want to put down some roots, you may be ready to buy a house.
Use our buy vs rent calculator to find out what's right for you.
Find a Mortgage Broker in your Area
Discover a better home buying experience.
How to know you’re ready to buy a home
There’s not a one-size-fits-all approach to knowing if you’re ready to be a homeowner. When debating between renting vs. buying, you’ll need to think about your lifestyle and long-term goals. Here are a few signs you may be ready to purchase a home:
- You feel financially stable
- You’re ready to settle in a specific location
- You want more freedom for home renovations
- You want more space and privacy
How to start the homebuying process
These calculators are provided for illustrative and informational purposes only and the accuracy of the results is not guaranteed. The results displayed are only estimates based on the information you have provided and cannot be used to determine actual loan terms and costs. The results are not a quote, price, guideline or estimate for any particular loan product. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information to make financial decisions. It is encouraged that you seek personalized advice from a qualified mortgage broker.
An independent mortgage broker can work with you to figure out how much you can afford and what the best loan options are. They’ll also get you pre-approved for a mortgage, so you can get a good idea of how much financing you may qualify for. And if you’re not already working with a real estate agent, they may have agents they partner with that they trust to help you.