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$48,813$48,813$562,500
Remaining term (yrs)27.827.830.0
Secondary amount$0$513,687$0
Funding fee$0$0$0
Note rate6.370%6.370%7.400%
Blended rate6.920%7.678%7.640%
1st payment$312.09$312.09$3,894.64
2nd payment$0.00$3,317.56$0.00
Taxes / mo$520.83$520.83$520.83
Insurance / mo$166.67$166.67$166.67
MI / mo$22.40$22.40$112.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,021.98$4,339.54$4,694.64
Cash to close$576,187$62,500$62,500