Comparison

Side-by-side payments and cash to close

Lowest monthly: Current Market Conventional

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$551,069$551,069$553,500
Remaining term (yrs)27.627.630.0
Secondary amount$0$33,181$0
Funding fee$0$0$0
Note rate6.990%6.990%7.400%
Blended rate7.540%7.786%7.640%
1st payment$3,752.41$3,752.41$3,832.32
2nd payment$0.00$328.35$0.00
Taxes / mo$512.50$512.50$512.50
Insurance / mo$166.67$166.67$166.67
MI / mo$258.77$258.77$110.70
HOA / mo$0.00$0.00$0.00
Total monthly$4,690.34$5,018.69$4,622.19
Cash to close$63,931$30,750$61,500