Comparison

Side-by-side payments and cash to close

Lowest monthly: Assumable Loan

Total monthly

Payment stack including taxes, insurance, and HOA

Cash to close

Down payment / equity bring-to

Detail
Assumable Loan
Assumable · FHA
Current Market Conventional
New · Conventional
Loan amount$299,499$294,750
Remaining term (yrs)28.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$1,923.92$2,040.79
2nd payment$0.00$0.00
Taxes / mo$57.08$57.08
Insurance / mo$150.00$150.00
MI / mo$139.51$58.95
HOA / mo$0.00$0.00
Total monthly$2,270.51$2,306.82
Cash to close$28,001$32,750