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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$398,332$398,332$427,500
Remaining term (yrs)28.128.130.0
Secondary amount$0$29,168$0
Funding fee$0$0$0
Note rate6.44%6.44%7.18%
Blended rate6.99%7.127%7.42%
1st payment$2,556.48$2,556.48$2,896.03
2nd payment$0.00$218.76$0.00
Taxes / mo$138.17$138.17$138.17
Insurance / mo$166.67$166.67$166.67
MI / mo$186.54$186.54$85.50
HOA / mo$0.00$0.00$0.00
Total monthly$3,047.85$3,266.61$3,286.37
Cash to close$76,668$47,500$47,500