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$9,311$9,311$342,000
Remaining term (yrs)1.01.030.0
Secondary amount$0$332,689$0
Funding fee$0$0$0
Note rate7.280%7.280%7.400%
Blended rate8.130%7.760%7.640%
1st payment$695.75$695.75$2,367.94
2nd payment$0.00$2,148.61$0.00
Taxes / mo$190.67$190.67$190.67
Insurance / mo$150.00$150.00$150.00
MI / mo$72.03$72.03$68.40
HOA / mo$371.00$371.00$371.00
Total monthly$1,479.45$3,628.06$3,148.01
Cash to close$370,689$38,000$38,000