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$339,516$339,516$405,000
Remaining term (yrs)22.222.230.0
Secondary amount$0$65,484$0
Funding fee$0$0$0
Note rate4.940%4.940%7.400%
Blended rate5.790%6.309%7.640%
1st payment$2,094.02$2,094.02$2,804.14
2nd payment$0.00$491.13$0.00
Taxes / mo$291.42$291.42$291.42
Insurance / mo$150.00$150.00$150.00
MI / mo$278.20$278.20$81.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,813.63$3,304.76$3,326.55
Cash to close$110,484$45,000$45,000