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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$311,349$311,349$328,500
Remaining term (yrs)27.227.230.0
Secondary amount$0$35,401$0
Funding fee$0$0$0
Note rate7.03%7.03%7.18%
Blended rate7.58%8.018%7.42%
1st payment$2,138.84$2,138.84$2,225.37
2nd payment$0.00$350.32$0.00
Taxes / mo$215.58$215.58$215.58
Insurance / mo$150.00$150.00$150.00
MI / mo$146.90$146.90$65.70
HOA / mo$168.00$168.00$168.00
Total monthly$2,819.32$3,169.64$2,824.66
Cash to close$53,651$18,250$36,500