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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$314,523$314,523$485,100
Remaining term (yrs)26.826.830.0
Secondary amount$0$170,577$0
Funding fee$0$0$0
Note rate6.96%6.96%7.18%
Blended rate7.51%7.682%7.42%
1st payment$2,157.41$2,157.41$3,286.24
2nd payment$0.00$1,137.18$0.00
Taxes / mo$205.75$205.75$205.75
Insurance / mo$166.67$166.67$166.67
MI / mo$149.23$149.23$97.02
HOA / mo$77.00$77.00$77.00
Total monthly$2,756.06$3,893.24$3,832.67
Cash to close$224,477$53,900$53,900