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Blog » Renters » Find out how soon you can buy your first home with the Poplar Street Home Savings Calculator

Find out how soon you can buy your first home with the Poplar Street Home Savings Calculator

by | | Jul 17, 2018 | 10 min read |

As a renter dreaming of buying your first home, you may have two questions:

  • How much do I need to save up?
  • How long do I need to save?

If you’re one of the 21.3 million American renters spending 30% of your income on rent, answering questions of homeownership can be tough. You may be experiencing:

  • Budget headaches because you have very little income leftover for savings
  • Hefty down payments and debt challenges seem insurmountable because the time it will take to save for a home feels like an eternity

Onerent is pioneering a new way to rent with the launch of a first-of-its-kind product named “Poplar Street“. When you sign up for Poplar Street, you can earn 20 percent back on each month’s rent payment as a credit towards buying your first home. By saving a portion of your rent for a future home purchase, you get the convenience of renting plus the tools to build equity in your future home purchase. Thousands of renters have already signed up to the wait list for early access to this unique savings opportunity.

TRY THE POPLAR HOME SAVINGS CALCULATOR

We have also built a tool for millennials, renters, and first time home buyers to learn how soon they can buy a home with Poplar Street.

How The Poplar Home Savings Calculator Works

The Poplar Home Savings Calculator is not like your grandfather’s cell phone. It can calculate your home savings in no time and see how much you can save by renting with Poplar Street. It serves as a tool to help renters who want to buy a home but have difficulty doing so.

 

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The Poplar Home Savings calculator computes the highest mortgage you can support based on your monthly rent and monthly savings. It calculates the size of the mortgage your down payment would fetch you, from your current savings and estimated future savings. The lower of these two numbers is then taken.  The down payment amount and your poplar savings are then computed from your annual income, current total savings, monthly savings and current rent. The monthly savings and Poplar savings amount are multiplied with the number of months until your home purchase.

Flexibility and instant computation are the best features of the Poplar street calculator. You can play around it with different inputs to get your most updated home savings report. Traditional savings calculators do not include all those costs. Users are a bit surprised when their monthly mortgage payment turns out to be a lot more than they counted on. The formula behind the Poplar Street Home Savings calculator takes that bit of uncertainty out of the picture.

Try the Poplar Street Home Savings Calculator Now

Learn how soon you can buy a home

Team Onerent
About the Author
Team Onerent writes and curates insightful real estate articles from the point of views of our entire publishing staff. Newsworthy topics regarding company and industry news are written by our team that we believe are worth sharing. Team Onerent of the blog represents Onerent Property Management who provides a hassle-free rental service compared to the traditional property manager. Through a combination of automation and the careful human touch, Onerent’s technology enables its team to provide on-demand showings, instant renter screening, AI-powered leasing data, proactive maintenance, guaranteed rent payouts, and 24/7 support.

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