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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$12,577$12,577$400,500
Remaining term (yrs)24.524.530.0
Secondary amount$0$387,923$0
Funding fee$0$0$0
Note rate6.73%6.73%7.18%
Blended rate7.28%7.735%7.42%
1st payment$87.31$87.31$2,713.13
2nd payment$0.00$2,505.33$0.00
Taxes / mo$191.25$191.25$191.25
Insurance / mo$150.00$150.00$150.00
MI / mo$6.05$6.05$80.10
HOA / mo$571.00$571.00$571.00
Total monthly$1,005.60$3,510.94$3,705.48
Cash to close$432,423$44,500$44,500