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$65,600$65,600$719,999
Remaining term (yrs)7.37.330.0
Secondary amount$0$654,399$0
Funding fee$0$0$0
Note rate6.250%6.250%7.400%
Blended rate7.100%7.691%7.640%
1st payment$922.94$922.94$4,985.13
2nd payment$0.00$4,226.33$0.00
Taxes / mo$69.67$69.67$69.67
Insurance / mo$216.67$216.67$216.67
MI / mo$106.18$106.18$144.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,315.45$5,541.78$5,415.46
Cash to close$734,399$80,000$80,000