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$52,993$52,993$570,600
Remaining term (yrs)5.15.130.0
Secondary amount$0$517,607$0
Funding fee$0$0$0
Note rate6.800%6.800%7.400%
Blended rate7.650%7.741%7.640%
1st payment$1,002.57$1,002.57$3,950.72
2nd payment$0.00$3,342.88$0.00
Taxes / mo$528.33$528.33$528.33
Insurance / mo$166.67$166.67$166.67
MI / mo$108.93$108.93$114.12
HOA / mo$0.00$0.00$0.00
Total monthly$1,806.50$5,149.38$4,759.84
Cash to close$581,007$63,400$63,400