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$195,192$195,300
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$1,260.15$1,352.22
2nd payment$0.00$0.00
Taxes / mo$23.67$23.67
Insurance / mo$150.00$150.00
MI / mo$93.61$39.06
HOA / mo$0.00$0.00
Total monthly$1,527.42$1,564.94
Cash to close$21,808$21,700