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$447,596$447,596$526,500
Remaining term (yrs)27.527.530.0
Secondary amount$0$78,904$0
Funding fee$0$0$0
Note rate6.820%6.820%7.400%
Blended rate7.370%7.614%7.640%
1st payment$3,001.07$3,001.07$3,645.38
2nd payment$0.00$591.78$0.00
Taxes / mo$297.08$297.08$297.08
Insurance / mo$166.67$166.67$166.67
MI / mo$210.56$210.56$105.30
HOA / mo$0.00$0.00$0.00
Total monthly$3,675.38$4,267.16$4,214.43
Cash to close$137,404$58,500$58,500