Use this rent vs. buy calculator to get an estimate.

This rent vs. buy calculator provides customized information based on the information you provide. But, it also makes some assumptions about mortgage insurance and other costs, which can be significant. It will help you determine whether buying a home is a better deal than renting.

See how much you might be able to borrow.

Prequalify

Have you found a home? Start your application process.

Start your application

Reach out to an experienced loan officer.

Find a mortgage loan officer

Is it better to rent or buy?

Before deciding whether it’s best to rent or buy, consider your situation. There’s a right time to rent and a right time to buy. You should weigh the pros and cons for renting vs. buying to determine if you’re ready for the journey to home ownership. Find answers to the question “is buying a better option for me than renting?” and determine whether home ownership seems right for you.

Estimated monthly payment and APR example: A $464,000 loan amount with a 30-year term at an interest rate of 6.500% with a down payment of 25% and no discount points purchased would result in an estimated principal and interest monthly payment of $2,933 over the full term of the loan with an Annual Percentage Rate (APR) of 6.667%.1

Check out today’s mortgage rates.

Interest rates vary depending on the type of mortgage you choose. See the differences and how they can impact your monthly payment.

Compare rates

Learn more about mortgages.

How much should my down payment be on a house?

Determine your ideal down payment

How does my credit score affect my mortgage rate?

Learn how to maximize your credit score

How much house can I afford?

Find out how much house you could afford

Take the next step

Prequalify
Start your application
Find a mortgage loan officer
Call 888-291-2334
Start of disclosure content

Disclosures

  1. Estimated monthly payment and APR calculation are based on a down payment of 25% and borrower-paid finance charges of 0.862% of the base loan amount. If the down payment is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment. Estimated monthly payment does not include amounts for taxes and insurance premiums and the actual payment obligation will be greater.

Start of disclosure content

Calculators are provided by Leadfusion. This calculator is being provided for educational purposes only. The results are estimates that are based on information you provided and may not reflect U.S. Bank product terms. The information cannot be used by U.S. Bank to determine a client's eligibility for a specific product or service. All financial calculators are provided by the third-party Leadfusion and are not associated, controlled by or under the control of U.S. Bank, its affiliates or subsidiaries. U.S. Bank is not responsible for the content, results, or the accuracy of information.

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Visit usbank.com to learn more about U.S. Bank products and services. Mortgage, home equity and credit products offered by U.S. Bank National Association and subject to credit approval. Deposit products offered by U.S. Bank National Association. Member FDIC.