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$300,236$300,236$310,500
Remaining term (yrs)28.228.230.0
Secondary amount$0$27,514$0
Funding fee$0$0$0
Note rate6.500%6.500%7.400%
Blended rate7.050%7.455%7.640%
1st payment$1,934.53$1,934.53$2,149.84
2nd payment$0.00$272.27$0.00
Taxes / mo$657.22$657.22$657.22
Insurance / mo$150.00$150.00$150.00
MI / mo$140.28$140.28$62.10
HOA / mo$27.08$27.08$27.08
Total monthly$2,909.11$3,181.39$3,046.24
Cash to close$44,764$17,250$34,500