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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$427,606$414,000
Remaining term (yrs)29.030.0
Secondary amount$0$0
Funding fee$0$0
Note rate6.500%7.400%
Blended rate7.050%7.640%
1st payment$2,730.66$2,866.45
2nd payment$0.00$0.00
Taxes / mo$27.17$27.17
Insurance / mo$166.67$166.67
MI / mo$198.01$82.80
HOA / mo$0.00$0.00
Total monthly$3,122.50$3,143.09
Cash to close$32,394$46,000