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$233,495$198,000
Remaining term (yrs)27.830.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.990%7.400%
Blended rate7.540%7.640%
1st payment$1,586.85$1,370.91
2nd payment$0.00$0.00
Taxes / mo$284.92$284.92
Insurance / mo$150.00$150.00
MI / mo$109.43$39.60
HOA / mo$0.00$0.00
Total monthly$2,131.19$1,845.43
Cash to close$0$22,000