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$244,082$238,500
Remaining term (yrs)26.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate5.550%7.400%
Blended rate6.400%7.640%
1st payment$1,477.42$1,651.33
2nd payment$0.00$0.00
Taxes / mo$416.92$416.92
Insurance / mo$150.00$150.00
MI / mo$183.30$47.70
HOA / mo$17.58$17.58
Total monthly$2,245.22$2,283.52
Cash to close$20,918$26,500