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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$511,583$511,583$674,910
Remaining term (yrs)26.226.230.0
Secondary amount$0$163,327$0
Funding fee$0$0$0
Note rate6.81%6.81%7.18%
Blended rate7.66%7.742%7.42%
1st payment$3,490.33$3,490.33$4,572.08
2nd payment$0.00$1,088.84$0.00
Taxes / mo$317.75$317.75$317.75
Insurance / mo$216.67$216.67$216.67
MI / mo$378.85$378.85$134.98
HOA / mo$91.00$91.00$91.00
Total monthly$4,494.59$5,583.43$5,332.47
Cash to close$238,317$74,990$74,990