Adjust
live
live
Home price
$
Down
%
Rate
%
Appreciation
%
Rent now
$
Years
yrs
Shown in
Buying builds $312,000
more wealth over 10 years.
Your net worth, renting vs owning
If you sold at each point, after costs
Own
Keep renting
Net worth advantage
—
Equity from appreciation
—
Principal paid down
—Forced savings, not spent
Total tax savings
—
Rent paid & gone
—Zero equity to show for it
Where you stand at the end of year 7
Estimated home value
—
−
Mortgage balance still owed
—
=
Your home equity
—
The balance you still owe reflects any extra principal, refinance, or biweekly payments you model below.
How your equity is built
Down payment
Principal paid
Appreciation
Tax savings, adding up
Cumulative tax savings
Where your monthly housing dollar goes
Year 1If you own
— of your payment builds wealth you keep.
If you rent
Rent to your landlord
0% builds anything for you.
Owning costs more each month, right now
—
Extra cash you put in over 7 years
—
And it can get even better
Upside not counted in the numbers aboveRefinance if rates drop
Lower your rate down the road, keep your payment steady, and more of every dollar goes to principal instead of interest — cutting total interest and building equity faster than this report shows.
%
in year
yr
Pay a little extra toward principal
Even small extra principal payments shrink the loan ahead of schedule, significantly increasing your equity position and net worth over the same years.
Add
$
per month toward principal
Switch to biweekly payments
Pay half your mortgage every two weeks and you make one extra payment a year without feeling it — quietly shaving years off the loan and lifting your equity.
Justin WalshBranch Manager · Franklin Loan Center · NMLS #968831
Ready to see what you actually qualify for? Let’s turn this into a real plan.Or if you have questions and aren’t ready to apply, give me a call!