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$408,429$408,429$490,410
Remaining term (yrs)26.726.730.0
Secondary amount$0$81,981$0
Funding fee$0$0$0
Note rate6.390%6.390%7.400%
Blended rate6.940%7.284%7.640%
1st payment$2,655.04$2,655.04$3,395.50
2nd payment$0.00$614.86$0.00
Taxes / mo$339.08$339.08$339.08
Insurance / mo$166.67$166.67$166.67
MI / mo$194.75$194.75$98.08
HOA / mo$0.00$0.00$0.00
Total monthly$3,355.54$3,970.40$3,999.33
Cash to close$136,471$54,490$54,490