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$307,863$315,000
Remaining term (yrs)26.430.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$2,032.29$2,181.00
2nd payment$0.00$0.00
Taxes / mo$237.58$237.58
Insurance / mo$150.00$150.00
MI / mo$147.37$63.00
HOA / mo$377.00$377.00
Total monthly$2,944.24$3,008.58
Cash to close$42,137$35,000