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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$77,410$77,410$355,500
Remaining term (yrs)15.615.630.0
Secondary amount$0$278,090$0
Funding fee$0$0$0
Note rate3.91%3.91%7.18%
Blended rate4.76%7.099%7.42%
1st payment$551.32$551.32$2,408.28
2nd payment$0.00$1,795.99$0.00
Taxes / mo$94.75$94.75$94.75
Insurance / mo$150.00$150.00$150.00
MI / mo$82.69$82.69$71.10
HOA / mo$94.00$94.00$94.00
Total monthly$972.76$2,768.76$2,818.13
Cash to close$317,590$39,500$39,500