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$305,931$301,500
Remaining term (yrs)25.330.0
Secondary amount$0$0
Funding fee$0$0
Note rate3.220%7.400%
Blended rate4.070%7.640%
1st payment$1,470.16$2,087.53
2nd payment$0.00$0.00
Taxes / mo$103.83$103.83
Insurance / mo$150.00$150.00
MI / mo$240.19$60.30
HOA / mo$0.00$0.00
Total monthly$1,964.18$2,401.66
Cash to close$29,069$33,500