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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$354,527$354,527$368,910
Remaining term (yrs)25.625.630.0
Secondary amount$0$34,878$0
Funding fee$0$0$0
Note rate5%5%7.18%
Blended rate5.85%6.39%7.42%
1st payment$2,042.30$2,042.30$2,499.12
2nd payment$0.00$345.14$0.00
Taxes / mo$264.83$264.83$264.83
Insurance / mo$150.00$150.00$150.00
MI / mo$269.48$269.48$73.78
HOA / mo$125.00$125.00$125.00
Total monthly$2,851.61$3,196.76$3,112.74
Cash to close$55,373$20,495$40,990