Buy vs Rent ... What should I Do?

As a agent in the Manhattan real estate market I am often asked if one should rent or buy.

If one has a good credit score, a maximum debt-to-credit ratio in the mid 40's, can document their income and are liquid equal to 3 months to 36 months of payments then yes, one should consider buying.

If one has good credit, makes a salary equal to forty times the monthly rent, but don't have a great deal of income, then they may wish to consider renting.

Below is a calculator which can help you to decide what type of home you can afford.

http://www.timevalue.com/calculators/rent-vs-buy-calculator.aspx