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$249,591$202,500
Remaining term (yrs)27.830.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.920%7.400%
Blended rate7.470%7.640%
1st payment$1,684.76$1,402.07
2nd payment$0.00$0.00
Taxes / mo$44.25$44.25
Insurance / mo$150.00$150.00
MI / mo$117.01$40.50
HOA / mo$249.00$249.00
Total monthly$2,245.01$1,885.82
Cash to close$0$22,500