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$488,435$488,435$494,100
Remaining term (yrs)28.928.930.0
Secondary amount$0$33,115$0
Funding fee$0$0$0
Note rate6.750%6.750%7.400%
Blended rate7.300%7.590%7.640%
1st payment$3,202.11$3,202.11$3,421.05
2nd payment$0.00$327.70$0.00
Taxes / mo$555.58$555.58$555.58
Insurance / mo$166.67$166.67$166.67
MI / mo$226.28$226.28$98.82
HOA / mo$20.83$20.83$20.83
Total monthly$4,171.47$4,499.16$4,262.95
Cash to close$60,565$27,450$54,900