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$258,197$261,000
Remaining term (yrs)25.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate5.230%7.400%
Blended rate6.080%7.640%
1st payment$1,520.11$1,807.11
2nd payment$0.00$0.00
Taxes / mo$318.98$318.98
Insurance / mo$150.00$150.00
MI / mo$195.43$52.20
HOA / mo$25.00$25.00
Total monthly$2,209.53$2,353.30
Cash to close$31,803$29,000