This is especially true if buying a home could potentially save you money in the long run, like if your monthly payment would be less than you currently pay in rent. (thecollegeinvestor.com)
The goal was to keep the mortgage, interest and property tax payments to about $ 1,200 per month — what they previously paid in rent. (moneysense.ca)
Problem is that the interest on the mortgage is often close to what you would pay in rent on a similar place. (marginalrevolution.com)