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$424,447$418,500
Remaining term (yrs)28.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.320%7.400%
Blended rate6.870%7.640%
1st payment$2,691.35$2,897.61
2nd payment$0.00$0.00
Taxes / mo$82.67$82.67
Insurance / mo$166.67$166.67
MI / mo$198.87$83.70
HOA / mo$47.00$47.00
Total monthly$3,186.55$3,277.64
Cash to close$40,553$46,500