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$320,005$324,000
Remaining term (yrs)29.130.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.190%7.400%
Blended rate6.740%7.640%
1st payment$1,975.27$2,243.31
2nd payment$0.00$0.00
Taxes / mo$412.35$412.35
Insurance / mo$150.00$150.00
MI / mo$147.97$64.80
HOA / mo$100.00$100.00
Total monthly$2,785.60$2,970.46
Cash to close$39,995$36,000