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$85,898$85,410
Remaining term (yrs)28.430.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$552.35$591.36
2nd payment$0.00$0.00
Taxes / mo$165.56$165.56
Insurance / mo$150.00$150.00
MI / mo$40.05$17.08
HOA / mo$250.00$250.00
Total monthly$1,157.96$1,174.01
Cash to close$9,002$9,490