Comparison

Side-by-side payments and cash to close

Lowest monthly: Current Market Conventional

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$33,724$45,000
Remaining term (yrs)7.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate5.500%7.400%
Blended rate6.350%7.640%
1st payment$450.09$311.57
2nd payment$0.00$0.00
Taxes / mo$41.67$41.67
Insurance / mo$150.00$150.00
MI / mo$56.15$9.00
HOA / mo$0.00$0.00
Total monthly$697.91$512.24
Cash to close$16,276$5,000