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$297,605$215,100
Remaining term (yrs)25.130.0
Secondary amount$0$0
Funding fee$0$0
Note rate2.180%7.400%
Blended rate3.030%7.640%
1st payment$1,278.06$1,489.31
2nd payment$0.00$0.00
Taxes / mo$24.50$24.50
Insurance / mo$150.00$150.00
MI / mo$239.06$43.02
HOA / mo$0.00$0.00
Total monthly$1,691.63$1,706.83
Cash to close$0$23,900