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$285,669$288,000
Remaining term (yrs)26.730.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.430%7.400%
Blended rate6.980%7.640%
1st payment$1,864.28$1,994.05
2nd payment$0.00$0.00
Taxes / mo$126.75$126.75
Insurance / mo$150.00$150.00
MI / mo$136.18$57.60
HOA / mo$85.00$85.00
Total monthly$2,362.21$2,413.40
Cash to close$34,331$32,000