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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$55,036$55,036$359,100
Remaining term (yrs)15.615.630.0
Secondary amount$0$304,064$0
Funding fee$0$0$0
Note rate3.78%3.78%7.18%
Blended rate4.63%7.272%7.42%
1st payment$386.87$386.87$2,432.67
2nd payment$0.00$1,963.75$0.00
Taxes / mo$94.50$94.50$94.50
Insurance / mo$150.00$150.00$150.00
MI / mo$58.96$58.96$71.82
HOA / mo$97.00$97.00$97.00
Total monthly$787.33$2,751.08$2,845.99
Cash to close$343,964$39,900$39,900