Rent vs. Own
True Cost Calculator
Discover the real financial difference between renting, buying, and the HOT Program's Lease-to-Own path — your bridge to homeownership.
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Adjust the sliders above to see your personalized homeownership analysis.
The HOT Program's lease-purchase option lets you move into your home TODAY while building toward ownership. Every month counts toward your future purchase — building equity before you're mortgage-ready.
Building Toward Ownership
Your lease-to-own path analysis will appear here as you adjust the values above.
🏦 The True Cost of Renting
If you rent at $1,400/mo for 30 years with 3% annual increases, you'll pay over $802,000 in rent — and own zero equity at the end. Every dollar is gone forever.
📈 Home Appreciation Power
Homes have appreciated at an average of 3–5% annually historically. A $200K home becomes ~$324K in 20 years at 4%. That's $124K in wealth — without any extra effort.
💡 The DTI Rule
Lenders want your total monthly debt payments to stay below 43% of gross income (ideally under 36%). If you make $5,000/mo, your total debts including mortgage should be under $1,800.
🎯 Credit Score Impact
Going from a 620 to 740 credit score can reduce your mortgage rate by 1–1.5%. On a $200K loan, that saves you $45,000–$65,000 over 30 years. Credit coaching pays!
💰 PMI — The Hidden Tax
With less than 20% down, you'll pay PMI of 0.5–1.5%/year of your loan. On a $190K loan that's up to $237/month extra — money you never get back. The HOT Program helps you avoid this.
🌱 Rent Credits = Head Start
In the HOT lease-option program, a portion of your monthly payment is credited toward your purchase price. 25% of $1,600/mo × 24 months = $9,600 already working for you before you even get the mortgage.
🔑 NROC: Option Money Explained
Your NROC deposit (3.5–5%) reserves the RIGHT to purchase the home at today's locked price. If you buy, it applies to your down payment. It's not wasted — it's your first act of ownership.
📅 The HOT Timeline
Most HOT Program clients go from "not yet approved" to full homeowner in 12–36 months. The earlier you start, the sooner the transformation. Your journey starts with one decision today.