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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$322,987$322,987$342,000
Remaining term (yrs)27.727.730.0
Secondary amount$0$38,013$0
Funding fee$0$0$0
Note rate6.92%6.92%7.18%
Blended rate7.47%7.934%7.42%
1st payment$2,182.33$2,182.33$2,316.83
2nd payment$0.00$376.17$0.00
Taxes / mo$94.83$94.83$94.83
Insurance / mo$150.00$150.00$150.00
MI / mo$151.56$151.56$68.40
HOA / mo$0.00$0.00$0.00
Total monthly$2,578.73$2,954.90$2,630.06
Cash to close$57,013$19,000$38,000