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$241,053$252,000
Remaining term (yrs)26.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.350%7.400%
Blended rate6.900%7.640%
1st payment$1,560.88$1,744.80
2nd payment$0.00$0.00
Taxes / mo$708.58$708.58
Insurance / mo$150.00$150.00
MI / mo$114.97$50.40
HOA / mo$0.00$0.00
Total monthly$2,534.44$2,653.78
Cash to close$38,947$28,000