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$198,881$197,910
Remaining term (yrs)28.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.350%7.400%
Blended rate6.900%7.640%
1st payment$1,266.25$1,370.29
2nd payment$0.00$0.00
Taxes / mo$58.75$58.75
Insurance / mo$150.00$150.00
MI / mo$93.27$39.58
HOA / mo$404.00$404.00
Total monthly$1,972.27$2,022.62
Cash to close$21,019$21,990