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.
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.