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$313,385$261,000
Remaining term (yrs)26.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate5.550%7.400%
Blended rate6.400%7.640%
1st payment$1,896.92$1,807.11
2nd payment$0.00$0.00
Taxes / mo$374.25$374.25
Insurance / mo$150.00$150.00
MI / mo$235.34$52.20
HOA / mo$0.00$0.00
Total monthly$2,656.51$2,383.56
Cash to close$0$29,000