Because housing is likely your largest expense, it's important to determine whether you're better off renting or buying your home. Here's a tool that provides some guidance. Sift through the fees, taxes and monthly payments in order to make the best choices. And keep in mind, the results are based on original purchase price, fees and taxes payable at the time or purchase. Insurance and taxes fluctuate annually.

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Home Rent vs. Buy Calculator

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. The Home Rent vs. Buy calculator helps you weed through the fees, taxes and monthly payments to help you make a decision between these two options. This report is based on the original purchase price, fees and taxes payable at that time. Insurance and tax costs can fluctuate from year to year. Click the "View Report" button for a detailed look at the results.

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Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.