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$398,831$396,000
Remaining term (yrs)26.430.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.270%7.400%
Blended rate6.820%7.640%
1st payment$2,574.83$2,741.82
2nd payment$0.00$0.00
Taxes / mo$123.33$123.33
Insurance / mo$150.00$150.00
MI / mo$191.26$79.20
HOA / mo$7.00$7.00
Total monthly$3,046.43$3,101.36
Cash to close$41,169$44,000