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$7,443$7,443$414,000
Remaining term (yrs)25.725.730.0
Secondary amount$0$406,557$0
Funding fee$0$0$0
Note rate6.620%6.620%7.400%
Blended rate7.170%7.740%7.640%
1st payment$50.18$50.18$2,866.45
2nd payment$0.00$2,625.68$0.00
Taxes / mo$137.67$137.67$137.67
Insurance / mo$166.67$166.67$166.67
MI / mo$3.47$3.47$82.80
HOA / mo$0.00$0.00$0.00
Total monthly$357.98$2,983.66$3,253.59
Cash to close$452,557$46,000$46,000