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$366,197$360,000
Remaining term (yrs)26.630.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.340%7.400%
Blended rate6.890%7.640%
1st payment$2,371.72$2,492.57
2nd payment$0.00$0.00
Taxes / mo$120.75$120.75
Insurance / mo$150.00$150.00
MI / mo$174.88$72.00
HOA / mo$65.00$65.00
Total monthly$2,882.36$2,900.32
Cash to close$33,803$40,000