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$185,680$171,000
Remaining term (yrs)24.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate2.960%7.400%
Blended rate3.810%7.640%
1st payment$880.63$1,183.97
2nd payment$0.00$0.00
Taxes / mo$93.17$93.17
Insurance / mo$150.00$150.00
MI / mo$148.71$34.20
HOA / mo$407.00$407.00
Total monthly$1,679.52$1,868.34
Cash to close$4,320$19,000