Monthly Rent
1 Year2 Years3 Years5 Years10 Years20 Years30 Years
$ 700$8,400 $16,800 $25,200$42,000 $84,000 $168,000 $252,000
$ 750$9,000 $18,000 $27,000$45,000 $90,000 $180,000 $270,000
$ 800$9,600 $19,200 $28,800$48,000 $96,000 $192,000 $288,000
$ 850$10,200 $20,400 $30,600$51,000 $102,000 $204,000 $306,000
$ 900$10,800 $21,600 $32,400$54,000 $108,000 $216,000 $324,000
$ 950$11,400 $22,800$34,200$57,000 $114,000 $228,000 $342,000
$ 1,000 $12,000 $24,000$36,000$60,000 $120,000 $240,000 $360,000
$ 1,050 $12,600 $25,200$37,800$63,000 $126,000 $252,000 $378,000
$ 1,100 $13,200 $26,400$39,600$66,000 $132,000 $264,000 $396,000
$ 1,150 $13,800 $27,600 $41,400$69,000 $138,000 $276,000 $414,000
$ 1,200 $14,400 $28,000 $43,200$72,000 $144,000 $288,000 $432,000
Unlike rent, house payments can be locked in, with a fixed-rate mortgage, your payment will remain the same until the mortgage is paid off or you sell the home. A landlord's goal is to receive as much rent as possible. That means that as the years go by, your rent goes up. Why pay-off your landlord’s property when you can own your own?
Each month, part of your monthly payment is applied to the principal balance of your home loan, which builds equity. For many homeowners, the after-tax cost of a home mortgage could be less than the cost of rent. That's because the interest portion of each mortgage payment may be tax-deductible. In most cases, property taxes are also deductible. Please consult a tax advisor for details.
Here are some of the benefits associated with home ownership:
- You and your family a sense of stability and security
- There is no landlord looking over your shoulder
- It's making an investment in your future
- You are able to make home improvements
- Tax benefits for home owners
Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that they can call home, improve, and sell. Contact HomeProgramResources.com today for more information on how to get started.
