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$347,963$351,000
Remaining term (yrs)28.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.650%7.400%
Blended rate7.200%7.640%
1st payment$2,269.21$2,430.25
2nd payment$0.00$0.00
Taxes / mo$244.33$244.33
Insurance / mo$150.00$150.00
MI / mo$162.01$70.20
HOA / mo$0.00$0.00
Total monthly$2,825.56$2,894.79
Cash to close$42,037$39,000