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$244,709$238,500
Remaining term (yrs)29.330.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.150%7.400%
Blended rate6.700%7.640%
1st payment$1,501.16$1,651.33
2nd payment$0.00$0.00
Taxes / mo$277.67$277.67
Insurance / mo$150.00$150.00
MI / mo$112.93$47.70
HOA / mo$0.00$0.00
Total monthly$2,041.76$2,126.69
Cash to close$20,291$26,500