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$229,956$231,300
Remaining term (yrs)27.830.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.490%7.400%
Blended rate7.040%7.640%
1st payment$1,487.94$1,601.47
2nd payment$0.00$0.00
Taxes / mo$63.17$63.17
Insurance / mo$150.00$150.00
MI / mo$108.01$46.26
HOA / mo$0.00$0.00
Total monthly$1,809.11$1,860.90
Cash to close$27,044$25,700