Mortgage Basics
A calculator a house and a $1 bill in the background
Chapter 1: Should you buy or rent?

Nearly everyone dreams of owning his own home. But can you afford the house and all of the expenses associated with it?

A home is the most expensive purchase most of us will ever make. In this chapter, we'll examine the pros and cons of homeownership and show you exactly how you should calculate how much you can afford to spend on a house.

What you can expect to learn from this chapter:
  • Should you buy or rent?
    Owning your own home is a cornerstone of the American dream, but there are pros and cons to it. We help you decide whether to buy or rent a home.
  • How much house can you afford?
    Once you've determined if you want to own a home, this section will show you how to calculate how much you can afford on your annual salary.



Show Bankrate's community sharing policy
          Connect with us

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.


Jean Chatzky

Jean Chatzky: Buy a home now?

Whether you're talking interest rates, PMI or new down payment requirements, 2015 may be the last best year to buy. Here’s how to do it right.  ... Read more

Partner Center

Connect with us