Buy or continue renting

There are a number of factors to consider that can help you decide which is right for you. Use our
Rent vs. Buy Calculator to find out.

 

Affordability

Your income and debts usually play the biggest roles in determining an affordable purchase price range. It's simple to make an estimate by using our Affordability Calculator.

 

Upfront Costs

Many MetLife Home Loans mortgages require little money down. That can help you use this money for your upfront costs, such as closing costs and escrow payments for taxes and insurance. When determining affordability, use our Affordability Calculator to help determine how much money you'll have to pay upfront.

 

Deciding on the best loan program

When choosing a loan program, be sure to consider the following:

• How long you'll stay in the home
• The down payment you can make
• The maximum monthly payment you can afford
• How you'll pay for closing costs

If you have any questions, our experienced Mortagage Consultants are available to help. To locate a Mortgage Consultant near you, visit use our Locator Tool .

 

Tax benefits of homeownership

Mortgage interest, real estate taxes and some closing costs may be tax-deductible. Consult your tax advisor for more information. To see if these tax advantages outweigh the cost of renting, use our
Rent vs. Buy Calculator.

 

Private Mortgage Insurance (PMI)

If you are purchasing a home and your loan amount is greater than 80% of the sales price, you will have to purchase Private Mortgage Insurance. If you are refinancing, and your loan amount is greater than 80% of the sales price or appraised value of the property (whichever is less), you will have to purchase Private Mortgage Insurance. PMI is provided by a private mortgage insurance company to protect lenders against loss if you can no longer make your monthly mortgage payments.