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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$388,608$388,608$405,000
Remaining term (yrs)26.226.230.0
Secondary amount$0$38,892$0
Funding fee$0$0$0
Note rate6.31%6.31%7.18%
Blended rate7.16%7.589%7.42%
1st payment$2,524.80$2,524.80$2,743.61
2nd payment$0.00$384.86$0.00
Taxes / mo$212.42$212.42$212.42
Insurance / mo$150.00$150.00$150.00
MI / mo$288.63$288.63$81.00
HOA / mo$108.00$108.00$108.00
Total monthly$3,283.85$3,668.71$3,295.03
Cash to close$61,392$22,500$45,000