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$254,718$261,000
Remaining term (yrs)26.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.650%7.400%
Blended rate7.200%7.640%
1st payment$1,701.91$1,807.11
2nd payment$0.00$0.00
Taxes / mo$156.83$156.83
Insurance / mo$150.00$150.00
MI / mo$121.51$52.20
HOA / mo$16.67$16.67
Total monthly$2,146.92$2,182.81
Cash to close$35,282$29,000