Rent vs. Buy Calculator ... an invaluable tool (edit/delete)
I hope the best thing that comes out of the mortgage mess is that only people who can afford a house, buy a house. The rest of the population needs to wait until they rebuild their credit, increase their income and save some money, not only for a down payment, but also a cushion of a savings account in case something goes wrong in their world.
When we get together with our clients, we go over our Rent vs. Buy calculator and plug in their numbers so they can compare apples to apples. We are able to change any of the assumptions and look at many different scenarios. Naturally, rates and closing costs are determined by speaking to a qualified lender.
If you'd like me to email you the spreadsheet in Excel, just shot me an email at Nancy@TheOCExperts.com.
Have a great day, Nancy
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