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$404,414$405,000
Remaining term (yrs)29.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.010%7.400%
Blended rate6.560%7.640%
1st payment$2,439.51$2,804.14
2nd payment$0.00$0.00
Taxes / mo$229.08$229.08
Insurance / mo$150.00$150.00
MI / mo$186.29$81.00
HOA / mo$0.00$0.00
Total monthly$3,004.89$3,264.22
Cash to close$45,586$45,000