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Brad Barnard
Karl E. Kaebel Realtor
511 Elizabeth Street
Pekin, Illinois, 61554
Office: 309-241-0313
Cell: 309-241-0313
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Rent vs. Buy Calculator

Am I better off renting or owning? This calculator will show you the financial differences between the two.
$   Current Rent
  % Est. tax bracket
$   Purchase Price
  % Down Payment
  % Interest Rate
    Mortgage Term (Years)
    Your Monthly Payment
$   Yearly Taxes?
$   Yearly Insurance?
    Total PITI
    How long will you own (typ. 7 yrs)
$   This is your rent over the period
$   This is mortgage over the period
what is a lease option? | Print |

What is a lease option?

When a renter signs a lease with an option to purchase a Pekin Illinois property for a specific price within a certain time frame, that is called a lease option. In most lease-option situations, a portion of the rent is applied to a future down payment.
Lease options are most popular among buyers who don't have enough funds for a down payment and closing costs.

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Last Updated ( Tuesday, 29 July 2008 )
 
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