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$342,906$342,906$360,000
Remaining term (yrs)26.026.030.0
Secondary amount$0$37,094$0
Funding fee$0$0$0
Note rate5.660%5.660%7.400%
Blended rate6.510%7.034%7.640%
1st payment$2,098.50$2,098.50$2,492.57
2nd payment$0.00$367.08$0.00
Taxes / mo$114.08$114.08$114.08
Insurance / mo$150.00$150.00$150.00
MI / mo$257.23$257.23$72.00
HOA / mo$300.00$300.00$300.00
Total monthly$2,919.81$3,286.89$3,128.65
Cash to close$57,094$20,000$40,000