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
Assumable Loan + Second
Assumable · FHA
Current Market Conventional
New · Conventional
Loan amount$351,016$351,016$508,500
Remaining term (yrs)28.528.530.0
Secondary amount$0$157,484$0
Funding fee$0$0$0
Note rate6.760%6.760%7.400%
Blended rate7.310%7.524%7.640%
1st payment$2,312.19$2,312.19$3,520.75
2nd payment$0.00$1,049.89$0.00
Taxes / mo$329.33$329.33$329.33
Insurance / mo$166.67$166.67$166.67
MI / mo$163.22$163.22$101.70
HOA / mo$26.67$26.67$26.67
Total monthly$2,998.08$4,047.97$4,145.12
Cash to close$213,984$56,500$56,500