Rent vs. Mortgage Calculator

Find out if you can afford to buy for what you pay in rent.

Compare your costs over 5 years and see how much equity you could build.

Your Current Situation

Monthly Rent *

💡 Enter what you currently pay in rent each month

🏠

Based on Your Rent

Your $0/month rent is equivalent to buying a $0 home.

This is the home price where your monthly payment would be about the same as your rent.

Target Home Details

Target Home Price *

💡 Typical starter homes in RGV: $120K-$250K. Use calculated amount above or enter your own.

Down Payment *

💡 FHA loans: 3.5% minimum. Conventional: 5-20%. No PMI at 20%+

Interest Rate (Annual) *

💡 Current average: 6.65% (November 2025). Rate varies by credit score.

Property Tax Rate (Annual) *

💡 Cameron County typical: 2.0-3.0% annually

Home Insurance (Annual) *

💡 Average in Texas: $1,000-$1,500/year (not PMI)

HOA Fees (Monthly) Optional

💡 Many Brownsville homes have NO HOA. Enter $0 if none.

Your 5-Year Comparison

Here's how renting vs. buying compares over the next 5 years

If You Keep Renting

Monthly $0

Total Paid (5 years) $0

Equity Built $0

Cost to You $0

Monthly Cost to You $0

If You Buy

Monthly $0

Total Paid (5 years) $0

Equity Built $0

Tax Savings $0

Cost to You $0

Monthly Cost to You $0

Your Monthly Mortgage Payment Breakdown

Principal & Interest $0

Property Taxes $0

Home Insurance $0

PMI (less than 20% down) $0

HOA Fees $0

Total Monthly Payment $0

5-Year Cost Comparison

Disclaimer: Calculations are estimates for illustration only. Actual costs may vary based on rates, taxes, insurance, and market conditions. Consult a qualified mortgage professional for personalized advice.

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