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$305,723$305,723$427,410
Remaining term (yrs)29.829.830.0
Secondary amount$0$121,687$0
Funding fee$0$0$0
Note rate6.520%6.520%7.400%
Blended rate7.070%7.335%7.640%
1st payment$1,938.15$1,938.15$2,959.30
2nd payment$0.00$811.24$0.00
Taxes / mo$119.25$119.25$119.25
Insurance / mo$166.67$166.67$166.67
MI / mo$140.25$140.25$85.48
HOA / mo$0.00$0.00$0.00
Total monthly$2,364.31$3,175.56$3,330.70
Cash to close$169,177$47,490$47,490