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$244,689$244,755
Remaining term (yrs)29.330.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.090%7.400%
Blended rate6.640%7.640%
1st payment$1,491.60$1,694.63
2nd payment$0.00$0.00
Taxes / mo$112.08$112.08
Insurance / mo$150.00$150.00
MI / mo$112.93$48.95
HOA / mo$0.00$0.00
Total monthly$1,866.61$2,005.67
Cash to close$27,261$27,195