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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$491,819$491,819$495,000
Remaining term (yrs)29.229.230.0
Secondary amount$0$30,681$0
Funding fee$0$0$0
Note rate5.98%5.98%7.18%
Blended rate6.53%6.844%7.42%
1st payment$2,966.52$2,966.52$3,353.30
2nd payment$0.00$303.61$0.00
Taxes / mo$35.25$35.25$35.25
Insurance / mo$166.67$166.67$166.67
MI / mo$227.27$227.27$99.00
HOA / mo$208.00$208.00$208.00
Total monthly$3,603.70$3,907.31$3,862.22
Cash to close$58,181$27,500$55,000