Rent or Buy: The $54,000 Question! by Judy Jones

August 24, 2014

A renter paying $900 per month for rent will pay their landlord $54,000 over 5 1ears! With that same monthly payment this renter could be a homeowner building equity and reducing taxes. A renter paying $900 per month could potentially buy a home in the price range of $120,000 to $135,000 (depending on borrower’s credit score and debts) and not increase their monthly payment (based on a $130,000 sales price, 3.875% 30 year fixed rate with an ARP...