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$195,874$198,000
Remaining term (yrs)27.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.780%7.400%
Blended rate7.330%7.640%
1st payment$1,309.55$1,370.91
2nd payment$0.00$0.00
Taxes / mo$275.06$275.06
Insurance / mo$150.00$150.00
MI / mo$92.26$39.60
HOA / mo$0.00$0.00
Total monthly$1,826.86$1,835.57
Cash to close$24,126$22,000