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$229,008$234,000
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$1,437.20$1,620.17
2nd payment$0.00$0.00
Taxes / mo$13.25$13.25
Insurance / mo$150.00$150.00
MI / mo$105.97$46.80
HOA / mo$21.67$21.67
Total monthly$1,728.09$1,851.89
Cash to close$30,992$26,000