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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$226,816$226,816$499,500
Remaining term (yrs)29.129.130.0
Secondary amount$0$272,684$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.432%7.42%
1st payment$1,447.04$1,447.04$3,383.79
2nd payment$0.00$1,761.08$0.00
Taxes / mo$152.17$152.17$152.17
Insurance / mo$166.67$166.67$166.67
MI / mo$104.93$104.93$99.90
HOA / mo$0.00$0.00$0.00
Total monthly$1,870.80$3,631.88$3,802.52
Cash to close$328,184$55,500$55,500