Comparison

Side-by-side payments and cash to close

Lowest monthly: Current Market Conventional

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$297,039$229,500
Remaining term (yrs)27.830.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$1,923.91$1,589.01
2nd payment$0.00$0.00
Taxes / mo$313.89$313.89
Insurance / mo$150.00$150.00
MI / mo$139.51$45.90
HOA / mo$0.00$0.00
Total monthly$2,527.31$2,098.80
Cash to close$0$25,500