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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$302,018$302,018$343,799
Remaining term (yrs)26.426.430.0
Secondary amount$0$41,782$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.287%7.42%
1st payment$1,993.70$1,993.70$2,329.01
2nd payment$0.00$313.36$0.00
Taxes / mo$62.17$62.17$62.17
Insurance / mo$150.00$150.00$150.00
MI / mo$144.57$144.57$68.76
HOA / mo$2.08$2.08$2.08
Total monthly$2,352.52$2,665.88$2,612.02
Cash to close$79,981$38,200$38,200