Comparison

Side-by-side payments and cash to close

Lowest monthly: Current Market Conventional

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$248,613$216,000
Remaining term (yrs)28.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.200%7.400%
Blended rate6.750%7.640%
1st payment$1,557.34$1,495.54
2nd payment$0.00$0.00
Taxes / mo$353.33$353.33
Insurance / mo$150.00$150.00
MI / mo$116.54$43.20
HOA / mo$0.00$0.00
Total monthly$2,177.22$2,042.07
Cash to close$0$24,000