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Monday April 16, 2007 2:43 pm
NYC Mortgage Calculator Advises Buying or Renting
With the real estate market being as poor as it is in many areas, it sometimes costs more to buy a car than a house. Want to know if you should sell yours and get a new one, stay where you are, or rent? The NYT calculator can tell you how much you can afford to spend based on the amount of money you should borrow. It also determines your current home’s value and how much your loan really costs in terms of APR.
Just for the fun of it, we plopped in our own house to see if we should put it on the market and move on, but the calculator decided that we were in the bottom 6.3% of all home values, so we think we will just stay put for now.
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| New York Times
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