Rent vs. Own · PDF file Rent 3% Down 5% Down 10% Down 20% Down Purchase Price N/A...
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Rent 3% Down 5% Down 10% Down 20% Down
Purchase Price N/A $500,000 $500,000 $500,000 $500,000
Down Payment N/A $15,000 $25,000 $50,000 $100,000
Loan Amount N/A $485,000 $475,000 $450,000 $400,000
Rate N/A 3.875% 3.875% 3.875% 3.875%
APR N/A *4.364% *4.198% *4.050% *3.875%
Terms (month) N/A 360 360 360 360
Total Payment $3,000 $3,158.79 $3,018.42 $2,826.07 $2,455.95
Principal Paid $0 $714.51 $699.77 $662.94 $589.28
Net Monthly Pay $3,000 $2,444.28 $2,318.65 $2,163.13 $1,866.67
Net Monthly Savings $0 $555.72 $681.35 $836.87 $1,133.33
Cash To Close** $0 $22,454.75 $32,454.75 $57,454.75 $107,454.75
RACHEL LURA, REALTOR® THE RESULTS REALTY GROUP | LAER REALTY PARTNERS
(508) 905-9442 | LURAHOMES@GMAIL.COM | OPENHOUSERACHEL.COM
RACHEL LURA (508) 905-9442
*Rates shown are subject to change based on your financial situation. ** Cash To Close includes downpayment.
The information contained in this table is distributed for educational purposes only. This is not an offer to enter into an agreement. Fairway Independent Mortgage Corporation does not guarantee a mortgage loan will reduce monthly housing costs. Any potential savings from monthly mortgage payments are based on individual factors. Contact your Fairway Loan Officer for more information regarding your specific situation.
Daniel Ventura Branch Manager
978-479-3625 40R Merrimac Street Suite 202W
Molly Sterns LO Assistant - Licensed
978-225-6232 100 Conifer Hill Dr. Suite 310
If you are currently paying close to $3,000 per month on rent, and you are waiting for the right moment to become a home owner, consider yourself ready! The table below shows the potential net savings to you when you purchase a $500,000 home with 3%, 5%, 10% or 20% down, in today’s interest rate* environment. It’s time to put yourself in the driver’s seat of your financial future. I can help you to stop building your landlord’s equity and start building your own!
I would love to chat with you and see how we can create a new goal and achieve it together!
Yo u r E q u i t y I s Yo u r P a t h To F i n a n c i a l F re e d o m
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“Owning a home is a keystone of wealth, financial affluence, and emotional security.” - Suze Orman