Rent vs Buy Calculator: Make the Smart Move for Your Future
Use this calculator to weigh the financial pros and cons of renting versus buying based on your unique situation. It’s a simple way to get clarity and confidence before making a big decision. Ready to explore your homeownership options? Check out our mortgage loan products designed for Colorado buyers.
Conventional First Mortgage Loans | Rate | Discount | APR* |
|---|---|---|---|
30-Year Fixed — Purchase | 6.375% | (0.250%) | As low as 6.420% |
15-Year Fixed — Purchase | 5.750% | (0.125%) | 5.824% |
7/6M SOFR ARM — Purchase | 6.000% | (0.125%) | As low as 6.228% |
30-Year Fixed VA — Purchase | 6.250% | (0.250%) | 6.413% |
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MORTGAGE PAYMENT COMPARISON - 30-Year fixed-rate loan, with a 20% down payment
The corresponding APR for each interest rate is provided next to the estimated monthly payment. For example, a mortgage amount of $200,000 with an estimated monthly payment of $984 and an interest rate of 4.25% would have an APR of 4.333%.
*APR = Annual Percentage Rate. The payment amounts provided do not include homeowners insurance or property taxes which must be paid in addition to your loan payment. Your actual payment may be higher. Your loan's interest rate will depend on the specific characteristics of the loan transaction and your credit profile at the time of closing. Estimated closing costs used in the APR calculations are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Rates are current as of 8/18/15 and are subject to change. Equal Housing Opportunity.
