How to hook up new 5 wire HVAC cable to newer HVAC unit with only 2 wires coming from it?? WITH PHOTOS
Land the blue wire on the "COM 24V" terminal

The typical use for a blue wire is to provide a C wire so that the thermostat can have constant 24VAC power available to it (saves money on batteries); as a result, simply land your blue wire on the terminal marked "COM 24V" on the control board.

As to the rest of the wires you depict? The green wire indeed goes to G, the yellow wire to Y/Y2, and the red goes to R just as you show, but the white wire needs to go to W/W1 not W2 for your single stage system.  Your revised diagram, though, is correct, and so is your thermostat wiring, assuming it is configured for a conventional system (not a heat pump).