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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$8,634$8,634$297,000
Remaining term (yrs)24.824.830.0
Secondary amount$0$288,366$0
Funding fee$0$0$0
Note rate6.71%6.71%7.18%
Blended rate7.26%7.736%7.42%
1st payment$59.52$59.52$2,011.98
2nd payment$0.00$1,862.36$0.00
Taxes / mo$159.72$159.72$159.72
Insurance / mo$150.00$150.00$150.00
MI / mo$4.13$4.13$59.40
HOA / mo$60.00$60.00$60.00
Total monthly$433.36$2,295.72$2,441.10
Cash to close$321,366$33,000$33,000