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$62,721$62,721$386,910
Remaining term (yrs)4.54.530.0
Secondary amount$0$324,189$0
Funding fee$0$0$0
Note rate2.960%2.960%7.400%
Blended rate3.810%7.111%7.640%
1st payment$1,220.88$1,220.88$2,678.89
2nd payment$0.00$2,093.72$0.00
Taxes / mo$216.00$216.00$216.00
Insurance / mo$150.00$150.00$150.00
MI / mo$125.58$125.58$77.38
HOA / mo$67.00$67.00$67.00
Total monthly$1,779.46$3,873.18$3,189.27
Cash to close$367,179$42,990$42,990