We have assembled some tables to allow you to gauge the possibility of purchasing instead of renting.  The information is to be used as a guideline only, please send us a message for more specific information.

If it is at all possible to purchase, you will see that it pays to put the money in your pocket instead of your landlords.  Please have a look at the tables below:  

How Much Rent Do You Pay?
Monthly Rent	After 3 Years	After 4 Years	After 5 Years	After 6 Years
$500.00	$18,000	$24,000	$30,000	$36,000
$600.00	$21,600	$28,800	$36,000	$43,200
$700.00	$25,200	$33,600	$42,000	$50,400
$800.00	$28,800	$38,400	$48,000	$57,600
$900.00	$32,400	$43,200	$54,000	$64,800
$1,000.00	$36,000	$48,000	$60,000	$72,000

Comparison of Rental Income vs. Mortgage Payments
Rent Payment	Mortgage Payment	Mortgage Required	Down Payment Required	Purchase Price	Income Required
$500	$500	$69,840	$3,586	$71,723	$21,552
$600	$600	$83,808	$4,303	$86,068	$25,862
$700	$700	$97,776	$5,021	$100,412	$30,172
$800	$800	$111,745	$5,738	$114,757	$34,483
$900	$900	$125,713	$6,455	$129,102	$38,793
$1,000	$1,000	$139,681	$7,172	$143,446	$43,103
$1,100	$1,100	$153,649	$7,890	$157,791	$47,414
$1,200	$1,200	$167,617	$8,607	$172,135	$51,724
$1,300	$1,300	$181,585	$9,324	$186,480	$56,034
This Illustration Is Based on a Five Year Interest Rate of:  7.250%
The annual taxes are assumed to be 1.25% of the purchase price.