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$224,521$233,910
Remaining term (yrs)26.930.0
Secondary amount$0$0
Funding fee$0$0
Note rate7.090%7.400%
Blended rate7.640%7.640%
1st payment$1,557.48$1,619.55
2nd payment$0.00$0.00
Taxes / mo$264.83$264.83
Insurance / mo$150.00$150.00
MI / mo$106.33$46.78
HOA / mo$21.92$21.92
Total monthly$2,100.57$2,103.08
Cash to close$35,379$25,990