Comparison

Side-by-side payments and cash to close

Lowest monthly: Current Market Conventional

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$287,884$198,000
Remaining term (yrs)27.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate7.060%7.400%
Blended rate7.610%7.640%
1st payment$1,971.64$1,370.91
2nd payment$0.00$0.00
Taxes / mo$75.58$75.58
Insurance / mo$150.00$150.00
MI / mo$135.01$39.60
HOA / mo$340.00$340.00
Total monthly$2,672.23$1,976.10
Cash to close$0$22,000