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$246,422$243,000
Remaining term (yrs)26.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate5.220%7.400%
Blended rate6.070%7.640%
1st payment$1,442.75$1,682.48
2nd payment$0.00$0.00
Taxes / mo$239.25$239.25
Insurance / mo$150.00$150.00
MI / mo$185.69$48.60
HOA / mo$100.00$100.00
Total monthly$2,117.69$2,220.33
Cash to close$23,578$27,000