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$358,849$359,100
Remaining term (yrs)28.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.860%7.400%
Blended rate7.410%7.640%
1st payment$2,382.97$2,486.34
2nd payment$0.00$0.00
Taxes / mo$81.83$81.83
Insurance / mo$150.00$150.00
MI / mo$166.51$71.82
HOA / mo$0.00$0.00
Total monthly$2,781.31$2,789.99
Cash to close$40,151$39,900