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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$332,335$332,335$359,999
Remaining term (yrs)26.226.230.0
Secondary amount$0$27,664$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.35%7.2%7.42%
1st payment$2,199.06$2,199.06$2,438.76
2nd payment$0.00$207.48$0.00
Taxes / mo$187.83$187.83$187.83
Insurance / mo$150.00$150.00$150.00
MI / mo$159.46$159.46$72.00
HOA / mo$108.00$108.00$108.00
Total monthly$2,804.35$3,011.83$2,956.59
Cash to close$67,664$40,000$40,000