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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$315,078$315,078$350,999
Remaining term (yrs)26.926.930.0
Secondary amount$0$35,921$0
Funding fee$0$0$0
Note rate7.07%7.07%7.18%
Blended rate7.62%7.761%7.42%
1st payment$2,181.55$2,181.55$2,377.79
2nd payment$0.00$269.41$0.00
Taxes / mo$90.00$90.00$90.00
Insurance / mo$150.00$150.00$150.00
MI / mo$149.23$149.23$70.20
HOA / mo$0.00$0.00$0.00
Total monthly$2,570.79$2,840.19$2,687.99
Cash to close$74,921$39,000$39,000