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$320,561$301,500
Remaining term (yrs)24.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate2.940%7.400%
Blended rate3.790%7.640%
1st payment$1,517.02$2,087.53
2nd payment$0.00$0.00
Taxes / mo$173.70$173.70
Insurance / mo$150.00$150.00
MI / mo$256.84$60.30
HOA / mo$0.00$0.00
Total monthly$2,097.56$2,471.53
Cash to close$14,439$33,500