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$321,046$301,500
Remaining term (yrs)24.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate3.020%7.400%
Blended rate3.870%7.640%
1st payment$1,532.64$2,087.53
2nd payment$0.00$0.00
Taxes / mo$173.67$173.67
Insurance / mo$150.00$150.00
MI / mo$256.84$60.30
HOA / mo$0.00$0.00
Total monthly$2,113.15$2,471.49
Cash to close$13,954$33,500