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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$562,931$562,931$648,000
Remaining term (yrs)22.422.430.0
Secondary amount$0$85,069$0
Funding fee$0$0$0
Note rate4%4%7.18%
Blended rate4.85%5.395%7.42%
1st payment$3,165.26$3,165.26$4,389.78
2nd payment$0.00$638.02$0.00
Taxes / mo$369.25$369.25$369.25
Insurance / mo$216.67$216.67$216.67
MI / mo$469.63$469.63$129.60
HOA / mo$177.33$177.33$177.33
Total monthly$4,398.14$5,036.15$5,282.62
Cash to close$157,069$72,000$72,000