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$216,020$224,910
Remaining term (yrs)27.830.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.950%7.400%
Blended rate7.500%7.640%
1st payment$1,462.40$1,557.23
2nd payment$0.00$0.00
Taxes / mo$55.50$55.50
Insurance / mo$150.00$150.00
MI / mo$101.26$44.98
HOA / mo$0.00$0.00
Total monthly$1,769.16$1,807.71
Cash to close$33,880$24,990