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$197,664$198,000
Remaining term (yrs)26.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$1,303.30$1,370.91
2nd payment$0.00$0.00
Taxes / mo$47.42$47.42
Insurance / mo$150.00$150.00
MI / mo$94.51$39.60
HOA / mo$300.00$300.00
Total monthly$1,895.22$1,907.93
Cash to close$22,336$22,000