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$476,950$476,950$481,500
Remaining term (yrs)28.228.230.0
Secondary amount$0$31,300$0
Funding fee$0$0$0
Note rate6.600%6.600%7.400%
Blended rate7.150%7.441%7.640%
1st payment$3,104.10$3,104.10$3,333.81
2nd payment$0.00$309.74$0.00
Taxes / mo$424.83$424.83$424.83
Insurance / mo$166.67$166.67$166.67
MI / mo$222.77$222.77$96.30
HOA / mo$44.00$44.00$44.00
Total monthly$3,962.36$4,272.10$4,065.61
Cash to close$58,050$26,750$53,500