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$67,731$67,731$562,500
Remaining term (yrs)6.66.630.0
Secondary amount$0$494,769$0
Funding fee$0$0$0
Note rate3.400%3.400%7.400%
Blended rate4.250%7.329%7.640%
1st payment$936.98$936.98$3,894.64
2nd payment$0.00$3,195.38$0.00
Taxes / mo$903.17$903.17$903.17
Insurance / mo$166.67$166.67$166.67
MI / mo$115.46$115.46$112.50
HOA / mo$0.00$0.00$0.00
Total monthly$2,122.27$5,317.66$5,076.97
Cash to close$557,269$62,500$62,500