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$350,016$340,641
Remaining term (yrs)29.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.220%7.400%
Blended rate6.770%7.640%
1st payment$2,169.48$2,358.53
2nd payment$0.00$0.00
Taxes / mo$385.92$385.92
Insurance / mo$150.00$150.00
MI / mo$162.01$68.13
HOA / mo$90.00$90.00
Total monthly$2,957.40$3,052.57
Cash to close$28,474$37,849