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$484,690$484,690$517,500
Remaining term (yrs)28.228.230.0
Secondary amount$0$32,810$0
Funding fee$0$0$0
Note rate6.500%6.500%7.400%
Blended rate7.050%7.174%7.640%
1st payment$3,123.04$3,123.04$3,583.07
2nd payment$0.00$246.08$0.00
Taxes / mo$538.92$538.92$538.92
Insurance / mo$166.67$166.67$166.67
MI / mo$226.46$226.46$103.50
HOA / mo$35.00$35.00$35.00
Total monthly$4,090.08$4,336.16$4,427.15
Cash to close$90,310$57,500$57,500