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$111,402$117,000
Remaining term (yrs)27.830.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.890%7.320%
Blended rate7.440%7.560%
1st payment$749.78$803.71
2nd payment$0.00$0.00
Taxes / mo$19.50$19.50
Insurance / mo$150.00$150.00
MI / mo$52.23$23.40
HOA / mo$0.00$0.00
Total monthly$971.51$996.61
Cash to close$18,598$13,000