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$261,375$256,500
Remaining term (yrs)28.630.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$1,675.67$1,775.95
2nd payment$0.00$0.00
Taxes / mo$52.83$52.83
Insurance / mo$150.00$150.00
MI / mo$121.51$51.30
HOA / mo$0.00$0.00
Total monthly$2,000.01$2,030.09
Cash to close$23,625$28,500