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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$300,978$300,978$387,000
Remaining term (yrs)28.628.630.0
Secondary amount$0$86,022$0
Funding fee$0$0$0
Note rate6.89%6.89%7.18%
Blended rate7.44%7.787%7.42%
1st payment$2,008.34$2,008.34$2,621.67
2nd payment$0.00$645.17$0.00
Taxes / mo$88.33$88.33$88.33
Insurance / mo$150.00$150.00$150.00
MI / mo$139.91$139.91$77.40
HOA / mo$0.00$0.00$0.00
Total monthly$2,386.58$3,031.74$2,937.41
Cash to close$129,022$43,000$43,000