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$224,716$220,500
Remaining term (yrs)26.330.0
Secondary amount$0$0
Funding fee$0$0
Note rate4.880%7.400%
Blended rate5.730%7.640%
1st payment$1,262.62$1,526.70
2nd payment$0.00$0.00
Taxes / mo$58.08$58.08
Insurance / mo$150.00$150.00
MI / mo$168.90$44.10
HOA / mo$267.00$267.00
Total monthly$1,906.61$2,045.88
Cash to close$20,284$24,500