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$398,460$395,100
Remaining term (yrs)29.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$2,544.54$2,735.59
2nd payment$0.00$0.00
Taxes / mo$284.88$284.88
Insurance / mo$150.00$150.00
MI / mo$184.51$79.02
HOA / mo$182.00$182.00
Total monthly$3,345.93$3,431.49
Cash to close$40,540$43,900