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$425,034$425,034$476,910
Remaining term (yrs)27.227.230.0
Secondary amount$0$51,876$0
Funding fee$0$0$0
Note rate7.290%7.290%7.400%
Blended rate7.840%7.966%7.640%
1st payment$2,992.56$2,992.56$3,302.03
2nd payment$0.00$389.07$0.00
Taxes / mo$138.64$138.64$138.64
Insurance / mo$166.67$166.67$166.67
MI / mo$200.26$200.26$95.38
HOA / mo$0.00$0.00$0.00
Total monthly$3,498.13$3,887.20$3,702.72
Cash to close$104,866$52,990$52,990