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$0$0$315,000
Remaining term (yrs)0.00.030.0
Secondary amount$0$315,000$0
Funding fee$0$0$0
Note rate10.460%10.460%7.400%
Blended rate11.310%7.750%7.640%
1st payment$958.22$958.22$2,181.00
2nd payment$0.00$2,034.38$0.00
Taxes / mo$291.67$291.67$291.67
Insurance / mo$150.00$150.00$150.00
MI / mo$74.44$74.44$63.00
HOA / mo$0.00$0.00$0.00
Total monthly$1,474.33$3,508.71$2,685.66
Cash to close$350,000$35,000$35,000