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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$502,019$502,019$557,999
Remaining term (yrs)28.128.130.0
Secondary amount$0$55,980$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.246%7.42%
1st payment$3,241.37$3,241.37$3,780.08
2nd payment$0.00$419.85$0.00
Taxes / mo$107.92$107.92$107.92
Insurance / mo$166.67$166.67$166.67
MI / mo$235.04$235.04$111.60
HOA / mo$0.00$0.00$0.00
Total monthly$3,751.00$4,170.85$4,166.26
Cash to close$117,980$62,000$62,000