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$26,692$26,692$382,500
Remaining term (yrs)27.827.830.0
Secondary amount$0$355,808$0
Funding fee$0$0$0
Note rate7.090%7.090%7.400%
Blended rate7.640%7.742%7.640%
1st payment$183.16$183.16$2,648.35
2nd payment$0.00$2,297.93$0.00
Taxes / mo$195.67$195.67$195.67
Insurance / mo$150.00$150.00$150.00
MI / mo$12.50$12.50$76.50
HOA / mo$0.00$0.00$0.00
Total monthly$541.33$2,839.26$3,070.52
Cash to close$398,308$42,500$42,500