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 · VA
Current Market Conventional
New · Conventional
Loan amount$244,616$240,705
Remaining term (yrs)24.730.0
Secondary amount$0$0
Funding fee$1,223$0
Note rate2.780%7.320%
Blended rate2.780%7.560%
1st payment$1,137.46$1,653.48
2nd payment$0.00$0.00
Taxes / mo$425.50$425.50
Insurance / mo$150.00$150.00
MI / mo$0.00$48.14
HOA / mo$10.83$10.83
Total monthly$1,723.79$2,287.95
Cash to close$22,834$26,745