Renting vs. Buying:

Now lets talk about renting vs. buying. Renting, you can rent a nice single family 3 bedroom 2 bath home with a 2 car garage for anywhere between $800.00 to $1200.00 a month. Not bad at all only thing is that after 5, 15, 30 years that house is still NOT yours, you made someone else rich! You have dogs or wants dogs, ok lets add a few $100 to that number. You decide you want to paint the house and like wood flooring better and your landlord agrees, ok thats fine but all that money you spend you DO NOT get back your landlord reaps those benefits because it is after all his house.  Buying, you can buy a nice NEW single family 3 bedroom 2 bath home with a 2 car garage for anywhere between $100K and $150K (more if you please). If you settle for the $100K one your looking at principal and interest payments of $550.00* and total payments of about $817.00* a month including taxes and insurance and of course you can always homestead your taxes and bring that number even lower! Don't forget you want wood floors, well you just brought up your value which means you reap the rewards. Not to mention 15 years worth of equity.

*Based on a 100K purcahse price USDA loan with a 5% 30 yr fixed rate and APR of 5.4%

Daily Rates:

Conventional 30 Yr. Fixed Rate: 4.875% *

FHA 30 Yr. Fixed Rate: 5.375**

USDA (100%) 30 Yr. Fixed Rate: 5.250***

*Based on a 150K purcahse price with 10% down and APR of  5.091%

**Based on a 150K purchase price with 3.5% down and APR of 6.472%

***Based on a 150K purchase price and 153K loan amount and APR of 5.649%