Comparison

Side-by-side payments and cash to close

Lowest monthly: Current Market Conventional

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$485,118$391,500
Remaining term (yrs)27.930.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.850%7.400%
Blended rate7.400%7.640%
1st payment$3,249.12$2,710.67
2nd payment$0.00$0.00
Taxes / mo$295.00$295.00
Insurance / mo$150.00$150.00
MI / mo$227.27$78.30
HOA / mo$75.00$75.00
Total monthly$3,996.39$3,308.97
Cash to close$0$43,500