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$308,973$288,000
Remaining term (yrs)24.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate3.080%7.400%
Blended rate3.930%7.640%
1st payment$1,484.67$1,994.05
2nd payment$0.00$0.00
Taxes / mo$354.00$354.00
Insurance / mo$150.00$150.00
MI / mo$246.90$57.60
HOA / mo$0.00$0.00
Total monthly$2,235.57$2,555.65
Cash to close$11,027$32,000