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$310,279$315,000
Remaining term (yrs)28.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.770%7.400%
Blended rate7.320%7.640%
1st payment$2,042.03$2,181.00
2nd payment$0.00$0.00
Taxes / mo$220.00$220.00
Insurance / mo$150.00$150.00
MI / mo$144.01$63.00
HOA / mo$0.00$0.00
Total monthly$2,556.03$2,614.00
Cash to close$39,721$35,000