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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$387,638$387,638$589,500
Remaining term (yrs)28.928.930.0
Secondary amount$0$201,862$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.29%7.42%
1st payment$2,477.83$2,477.83$3,993.48
2nd payment$0.00$1,303.69$0.00
Taxes / mo$294.33$294.33$294.33
Insurance / mo$166.67$166.67$166.67
MI / mo$179.68$179.68$117.90
HOA / mo$25.50$25.50$25.50
Total monthly$3,144.01$4,447.70$4,597.88
Cash to close$267,362$65,500$65,500