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$561,100$561,100$657,000
Remaining term (yrs)37.537.530.0
Secondary amount$0$95,900$0
Funding fee$0$0$0
Note rate6.690%6.690%7.400%
Blended rate7.240%7.497%7.640%
1st payment$3,405.64$3,405.64$4,548.94
2nd payment$0.00$719.25$0.00
Taxes / mo$608.33$608.33$608.33
Insurance / mo$216.67$216.67$216.67
MI / mo$260.57$260.57$131.40
HOA / mo$130.00$130.00$130.00
Total monthly$4,621.21$5,340.46$5,635.34
Cash to close$168,900$73,000$73,000