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$508,890$504,000
Remaining term (yrs)29.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.340%7.400%
Blended rate6.890%7.640%
1st payment$3,193.67$3,489.59
2nd payment$0.00$0.00
Taxes / mo$93.33$93.33
Insurance / mo$166.67$166.67
MI / mo$235.49$100.80
HOA / mo$0.00$0.00
Total monthly$3,689.16$3,850.39
Cash to close$51,110$56,000