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$520,551$520,551$607,500
Remaining term (yrs)27.927.930.0
Secondary amount$0$86,949$0
Funding fee$0$0$0
Note rate6.890%6.890%7.400%
Blended rate7.440%7.663%7.640%
1st payment$3,500.08$3,500.08$4,206.21
2nd payment$0.00$652.11$0.00
Taxes / mo$562.50$562.50$562.50
Insurance / mo$166.67$166.67$166.67
MI / mo$243.83$243.83$121.50
HOA / mo$0.00$0.00$0.00
Total monthly$4,473.08$5,125.19$5,056.87
Cash to close$154,449$67,500$67,500