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$378,789$378,789$494,910
Remaining term (yrs)26.826.830.0
Secondary amount$0$116,121$0
Funding fee$0$0$0
Note rate6.710%6.710%7.400%
Blended rate7.260%7.434%7.640%
1st payment$2,536.97$2,536.97$3,426.66
2nd payment$0.00$774.14$0.00
Taxes / mo$172.67$172.67$172.67
Insurance / mo$166.67$166.67$166.67
MI / mo$180.01$180.01$98.98
HOA / mo$59.00$59.00$59.00
Total monthly$3,115.31$3,889.45$3,923.97
Cash to close$171,111$54,990$54,990