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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$31,419$31,419$405,000
Remaining term (yrs)24.624.630.0
Secondary amount$0$373,581$0
Funding fee$0$0$0
Note rate6.86%6.86%7.18%
Blended rate7.41%7.724%7.42%
1st payment$220.10$220.10$2,743.61
2nd payment$0.00$2,412.71$0.00
Taxes / mo$250.17$250.17$250.17
Insurance / mo$150.00$150.00$150.00
MI / mo$14.67$14.67$81.00
HOA / mo$100.00$100.00$100.00
Total monthly$734.93$3,147.65$3,324.78
Cash to close$418,581$45,000$45,000