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$195,727$162,000
Remaining term (yrs)24.430.0
Secondary amount$0$0
Funding fee$0$0
Note rate2.740%7.400%
Blended rate3.590%7.640%
1st payment$914.74$1,121.66
2nd payment$0.00$0.00
Taxes / mo$88.58$88.58
Insurance / mo$150.00$150.00
MI / mo$158.92$32.40
HOA / mo$450.00$450.00
Total monthly$1,762.25$1,842.64
Cash to close$0$18,000