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$213,085$224,999
Remaining term (yrs)28.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$1,364.74$1,557.85
2nd payment$0.00$0.00
Taxes / mo$151.50$151.50
Insurance / mo$150.00$150.00
MI / mo$98.96$45.00
HOA / mo$0.00$0.00
Total monthly$1,765.20$1,904.35
Cash to close$36,914$25,000