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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$399,124$399,124$585,000
Remaining term (yrs)24.924.930.0
Secondary amount$0$185,876$0
Funding fee$0$0$0
Note rate2.87%2.87%7.18%
Blended rate3.72%5.08%7.42%
1st payment$1,865.81$1,865.81$3,962.99
2nd payment$0.00$1,239.17$0.00
Taxes / mo$75.50$75.50$75.50
Insurance / mo$166.67$166.67$166.67
MI / mo$318.75$318.75$117.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,426.73$3,665.91$4,322.16
Cash to close$250,876$65,000$65,000