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$10,736$10,736$315,000
Remaining term (yrs)20.520.530.0
Secondary amount$0$304,264$0
Funding fee$0$0$0
Note rate6.880%6.880%7.400%
Blended rate7.430%7.739%7.640%
1st payment$81.23$81.23$2,181.00
2nd payment$0.00$1,965.04$0.00
Taxes / mo$149.42$149.42$149.42
Insurance / mo$150.00$150.00$150.00
MI / mo$5.15$5.15$63.00
HOA / mo$325.00$325.00$325.00
Total monthly$710.80$2,675.84$2,868.41
Cash to close$339,264$35,000$35,000