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$410,031$405,000
Remaining term (yrs)26.530.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.390%7.400%
Blended rate6.940%7.640%
1st payment$2,674.94$2,804.14
2nd payment$0.00$0.00
Taxes / mo$235.17$235.17
Insurance / mo$150.00$150.00
MI / mo$196.21$81.00
HOA / mo$85.00$85.00
Total monthly$3,341.31$3,355.30
Cash to close$39,969$45,000