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That puts a whole different slant on the question. $16,000 down suggests you were hoping you were in a rent to own situation, rather than a regular rental. If that is the case, you should have a written signed contract (vetted by a lawyer) stipulating the details of what happens to your deposit if you leave. In the contract, it will also describe what portion of the rent is going to the purchase price, the fate of these dollars if you leave, and when you have to actually come up with your own funding. Or, if $16,000 was a typo and and you meant $1,600, then the terms for return of your deposit money should be in the lease agreement. Breaking the lease mid - term could certainly cause you to lose your deposit.
An individual's mortgage payments are not public information. There are many costs associated with renting out houses above and beyond mortgage payments, therefore, you can't judge what a landlord should be charging by his/her mortgage costs.If you don't like the rent, start looking before the end of your lease and give appropriate notice that you won't be renewing your lease. Is the current rent competitive with market area rents?
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For Sale: $227,500
For Sale: $119,900
For Sale: $129,000