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$984,983$984,983$1,304,100
Remaining term (yrs)27.027.030.0
Secondary amount$0$319,117$0
Funding fee$0$0$0
Note rate6.960%6.960%7.400%
Blended rate7.510%7.569%7.640%
1st payment$6,742.14$6,742.14$9,029.32
2nd payment$0.00$2,060.97$0.00
Taxes / mo$1,207.50$1,207.50$1,207.50
Insurance / mo$216.67$216.67$216.67
MI / mo$466.35$466.35$260.82
HOA / mo$0.00$0.00$0.00
Total monthly$8,632.66$10,693.63$10,714.31
Cash to close$464,017$144,900$144,900