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$7,936$7,936$494,910
Remaining term (yrs)14.114.130.0
Secondary amount$0$486,974$0
Funding fee$0$0$0
Note rate2.390%2.390%7.400%
Blended rate3.240%7.678%7.640%
1st payment$54.81$54.81$3,426.66
2nd payment$0.00$3,145.04$0.00
Taxes / mo$358.50$358.50$358.50
Insurance / mo$166.67$166.67$166.67
MI / mo$7.40$7.40$98.98
HOA / mo$0.00$0.00$0.00
Total monthly$587.37$3,732.41$4,050.81
Cash to close$541,964$54,990$54,990