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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$396,580$396,580$422,541
Remaining term (yrs)29.629.630.0
Secondary amount$0$25,961$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.17%7.42%
1st payment$2,513.51$2,513.51$2,862.44
2nd payment$0.00$194.71$0.00
Taxes / mo$16.67$16.67$16.67
Insurance / mo$166.67$166.67$166.67
MI / mo$182.26$182.26$84.51
HOA / mo$85.00$85.00$85.00
Total monthly$2,964.10$3,158.81$3,215.28
Cash to close$72,910$46,949$46,949