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$274,583$265,500
Remaining term (yrs)25.430.0
Secondary amount$0$0
Funding fee$0$0
Note rate3.220%7.400%
Blended rate4.070%7.640%
1st payment$1,316.73$1,838.27
2nd payment$0.00$0.00
Taxes / mo$720.50$720.50
Insurance / mo$150.00$150.00
MI / mo$215.12$53.10
HOA / mo$0.00$0.00
Total monthly$2,402.35$2,761.87
Cash to close$20,417$29,500