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$34,932$34,932$314,910
Remaining term (yrs)26.026.030.0
Secondary amount$0$279,978$0
Funding fee$0$0$0
Note rate6.580%6.580%7.400%
Blended rate7.130%7.681%7.640%
1st payment$233.75$233.75$2,180.37
2nd payment$0.00$1,808.19$0.00
Taxes / mo$527.87$527.87$527.87
Insurance / mo$150.00$150.00$150.00
MI / mo$16.22$16.22$62.98
HOA / mo$0.00$0.00$0.00
Total monthly$927.83$2,736.03$2,921.22
Cash to close$314,968$34,990$34,990