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THE HARBORPOINT WAY
A Seamless Path to Homeownership
Backed by 30 years of mortgage expertise, our 6-step process ensures clear options, honest communication, and no surprises.
Founder
Mark R. Sgromolo | Founder & President
With 30 years of mortgage lending experience, Mark founded HarborPoint Mortgage LLC to give clients the best of both worlds: highly competitive financing and exceptional personal service. From the initial consultation to closing, Mark ensures every borrower receives clear options and honest communication. A resident of Myrtle Beach, Mark spends his free time traveling, golfing, cooking and spending time with his loved ones.
Options
CLEAR · COMPETITIVE
Communication
HONEST · INFORMED
Service
PERSONAL · EXCEPTIONAL
Does renting or buying a home make more sense? Check out what is best for you by using our Rent vs Buy Calculator...
Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will walk you through the best possible mortgage scenario for your specific needs!
Buying is cheaper than renting after If you buy a house, after 3 years it will cost you $58 more per month and $5000 more in total than if you had rented. But you will own in equity of your home with an appreciated value of . If you buy a house, after 3 years you will have saved $58 per month and $5000 in total than if you had rented. You will also own in equity of your home with an appreciated value of .
Buying will never be cheaper than renting
Home equity after
1 year years
TOTAL COST YEARS
Costs over
Monthly Cost (after ) Yearly Cost (after ) Total Cost (after )
Rent
Buy
Difference
$0
$0
$0
Rent
Buy
Difference
$3,019
$92,453
$89,434
Rent
Buy
Difference
$3,019
$92,453
$89,434
Estimated Costs
These costs are estimated based on the information under the advanced section. You may adjust these values to suit your particular situation in order to get a more accurate estimate.
Monthly mortgage payments
$
Homeowner's insurance
$
Private Mortgage Insurance
$
HOA dues
$
Property tax
$
Home repairs
$
Renovations
$
Closing costs
$
Yearly rent increase
%
Rental insurance
$
How We Calculate the Costs
Calculating the Cost of Renting The cost of renting is relatively straightforward to calculate. It primarily includes your monthly rent payments and a few additional expenses:
- Monthly rent payments
- Security deposit (typically equal to one month's rent)
- Renters insurance (annual premium)
- Down payment
- Closing costs (typically 2-5% of the home's value)
- Monthly mortgage payments (principal and interest)
- Property taxes
- Homeowners insurance
- Private Mortgage Insurance (PMI) if applicable
- HOA fees (if applicable)
- Maintenance and repairs
- Home improvements and renovations
- Annual home appreciation rate: %
- Annual rent increase: %
- Renters insurance: $ per year
- Home maintenance and repairs: % of home value per year
- Home improvements and renovations: % of home value per year
- Selling costs when you sell the home: % of home value
Free Tools
Check out our other mortgage calculators
Access our top-rated mortgage calculators to expertly assess your financing options, compare various loan types, and make informed decisions for your home buying journey.
Affordability Calculator
Assess how much home you can afford based on your income, expenses, and desired down payment.
Rate Buydown Calculator
Check out how much you can save with a seller-paid rate buydown.
Insights & Advice
Advice from the Inside
Expert tips, market updates, and real-life stories to help you master the home buying and refinancing process.
Here’s How My Clients Beat the Clock By Preparing Ahead
Here’s How My Clients Beat the Clock By Preparing Ahead
Here’s What You Can Expect in Refinancing
Here’s What You Can Expect in Refinancing
You did WHAT!? Part 3
You did WHAT!? Part 3
You did WHAT!? Part 2
You did WHAT!? Part 2
You did WHAT!? Part 1
You did WHAT!? Part 1
Appraisal vs. Home Inspection?
