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$243,299$242,910
Remaining term (yrs)24.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate2.980%7.400%
Blended rate3.830%7.640%
1st payment$1,156.43$1,681.86
2nd payment$0.00$0.00
Taxes / mo$618.42$618.42
Insurance / mo$150.00$150.00
MI / mo$194.79$48.58
HOA / mo$11.25$11.25
Total monthly$2,130.89$2,510.11
Cash to close$26,601$26,990