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$485,564$485,564$508,500
Remaining term (yrs)27.727.730.0
Secondary amount$0$51,186$0
Funding fee$0$0$0
Note rate7.060%7.060%7.400%
Blended rate7.610%8.017%7.640%
1st payment$3,325.50$3,325.50$3,520.75
2nd payment$0.00$506.53$0.00
Taxes / mo$183.25$183.25$183.25
Insurance / mo$166.67$166.67$166.67
MI / mo$227.72$227.72$101.70
HOA / mo$55.00$55.00$55.00
Total monthly$3,958.13$4,464.66$4,027.37
Cash to close$79,436$28,250$56,500