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$350,771$350,771$391,950
Remaining term (yrs)26.226.230.0
Secondary amount$0$41,179$0
Funding fee$0$0$0
Note rate6.810%6.810%7.400%
Blended rate7.660%7.801%7.640%
1st payment$2,390.44$2,390.44$2,713.78
2nd payment$0.00$308.84$0.00
Taxes / mo$344.06$344.06$344.06
Insurance / mo$150.00$150.00$150.00
MI / mo$259.46$259.46$78.39
HOA / mo$56.83$56.83$56.83
Total monthly$3,200.79$3,509.63$3,343.06
Cash to close$84,729$43,550$43,550