Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. Interest rates are near record lows and the market is ripe for making a home purchase.  There are several advantages of owning your own house including:

1. You have a place to call your own and the ability to remodel and redecorate to match your needs and desires
2. Tax advantages- You may be able to deduct your interest on your mortgage on your yearly taxes
3. Your monthly payments will never increase if you choose a fixed-rate mortgage!
4. You build a solid nest egg- Owning a home is the single greatest source of financial security and independence

This calculator helps you weed through the fees, taxes, and monthly payments to help you make a good financial decision. Click the "View Report" button for a detailed look at the results.