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$0$0$602,100
Remaining term (yrs)——30.0
Secondary amount$0$602,100$0
Funding fee$0$0$0
Note rate5.500%5.500%7.400%
Blended rate6.350%7.750%7.640%
1st payment$0.00$0.00$4,168.82
2nd payment$0.00$3,888.56$0.00
Taxes / mo$557.50$557.50$557.50
Insurance / mo$166.67$166.67$166.67
MI / mo$0.00$0.00$120.42
HOA / mo$186.00$186.00$186.00
Total monthly$910.17$4,798.73$5,199.41
Cash to close$669,000$66,900$66,900