THE BENEFITS OF BUYING VS. RENTING- Aliso Viejo Real Estate

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THE BENEFITS OF BUYING VS. RENTING ALISO VIEJO

The Monthly amount you pay could add up over several years to be the price of your dream home, if not more!

  Buy Rent
Purchase Price/Rent $410,000 $2,650/month
Rate 3.25%
APR 3.592%
Term 30 Year Fixed
Loan Amount $395,650
Down Payment $14,350 $5,400
P & I $1,721.89
PMI $280.25
Tax/ Insurance* $395.85 $20
HOA* $255
Total Monthly $2,652.99 $2,670
Total after 3 Years $95,507.64 $99,720*
Equity after 3 Years $76,918.07* $0

*Taxes, Insurance, & HOA will vary with each loan. Rent was raised $100 a month each year. Equity is principal pay off and a 3% yearly increase in Real Estate values.rent-Aliso-Viejo

The principal and interest payment on a $395,650 30-year FHA Fixed Rate loan at 3.25% and 96.5% loan-to-value. FICO score of 680 was used for this example.

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Grant Gerhart

ABR, CRS, e-PRO, GREEN, RSPS, SFR, SRS