Decide what’s right—rent or buy?
Renting may be an option if you:
- Plan to move around and don't want to be tied to one location
- Don't have the funds for a down payment and closing costs
- Can't afford the potential maintenance costs of owning (repairs, lawn care, etc.)
- Are saving for the future
Buying may be an option if you:
- Plan to stay in one location
- Want to build equity over the long-term
- Have funds for a down payment and closing costs
- Want the potential tax advantages (check with a tax advisor for details)
- Can afford the maintenance costs of owning (repairs, lawn care, etc.)
Here’s a snapshot of how renting and buying may differ.
Initial Costs |
Renting
|
Buying
|
Ongoing Costs |
Renting
|
Buying
|
Renting
|
Buying
|
Renting
|
Buying
|
Renting
|
Buying
|
Renting
|
Buying
|
Beware of Scams
Learn how to identify and avoid scam artists who promise immediate relief from foreclosure.
FAQs
Find the answers to common questions concerning your mortgage and the various options to avoid foreclosure.
Glossary
Visit our glossary of key terms to increase your understanding of the foreclosure options available.