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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$334,135$334,135$342,000
Remaining term (yrs)26.626.630.0
Secondary amount$0$26,865$0
Funding fee$0$0$0
Note rate6.34%6.34%7.18%
Blended rate6.89%7.261%7.42%
1st payment$2,166.65$2,166.65$2,316.83
2nd payment$0.00$265.85$0.00
Taxes / mo$89.00$89.00$89.00
Insurance / mo$150.00$150.00$150.00
MI / mo$159.76$159.76$68.40
HOA / mo$71.00$71.00$71.00
Total monthly$2,636.41$2,902.27$2,695.23
Cash to close$45,865$19,000$38,000