Should I rent or buy my home?

Depending on how fast prices and rents rise and how long you stay in your home, you may be better off renting rather than buying. Factors that are part of the equation are the difference in monthly rent versus mortgage payment, home value appreciation, annual rent increases, the interest rate you will pay on your loan, your marginal tax rate and the yield you might receive on savings. When looking at these factors, consider the present value of each option. The one with the lower present value will be the better financial choice.

Calculations provided by Fintactix.
  • Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not 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.

DuPage Credit Union mortgage loan benefits

  • Highly competitive rates. Low mortgage rates with exclusive rate offers for members.
  • Low down payments. Put as little as 3% down on loans up to $484,350.
  • No hidden fees. Pay no application fee until you lock in your rate.
  • Home loan options for everyone. We lend on primary, secondary, and investment properties.
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