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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$8,128$8,128$310,500
Remaining term (yrs)24.624.630.0
Secondary amount$0$302,372$0
Funding fee$0$0$0
Note rate6.81%6.81%7.18%
Blended rate7.36%7.74%7.42%
1st payment$56.76$56.76$2,103.44
2nd payment$0.00$1,952.82$0.00
Taxes / mo$153.17$153.17$153.17
Insurance / mo$150.00$150.00$150.00
MI / mo$3.80$3.80$62.10
HOA / mo$65.33$65.33$65.33
Total monthly$429.05$2,381.87$2,534.03
Cash to close$336,872$34,500$34,500