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$218,536$220,500
Remaining term (yrs)27.430.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.620%7.400%
Blended rate7.170%7.640%
1st payment$1,439.95$1,526.70
2nd payment$0.00$0.00
Taxes / mo$201.83$201.83
Insurance / mo$150.00$150.00
MI / mo$103.12$44.10
HOA / mo$0.00$0.00
Total monthly$1,894.91$1,922.63
Cash to close$26,464$24,500