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$190,828$202,500
Remaining term (yrs)27.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.940%7.400%
Blended rate7.490%7.640%
1st payment$1,291.87$1,402.07
2nd payment$0.00$0.00
Taxes / mo$187.67$187.67
Insurance / mo$150.00$150.00
MI / mo$89.54$40.50
HOA / mo$0.00$0.00
Total monthly$1,719.08$1,780.24
Cash to close$34,172$22,500