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$349,520$349,520$356,400
Remaining term (yrs)28.028.030.0
Secondary amount$0$26,680$0
Funding fee$0$0$0
Note rate6.500%6.500%7.400%
Blended rate7.050%7.392%7.640%
1st payment$2,259.08$2,259.08$2,467.64
2nd payment$0.00$264.03$0.00
Taxes / mo$121.17$121.17$121.17
Insurance / mo$150.00$150.00$150.00
MI / mo$163.81$163.81$71.28
HOA / mo$115.00$115.00$115.00
Total monthly$2,809.06$3,073.09$2,925.09
Cash to close$46,480$19,800$39,600