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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$397,329$397,329$432,000
Remaining term (yrs)27.627.630.0
Secondary amount$0$34,671$0
Funding fee$0$0$0
Note rate7.03%7.03%7.18%
Blended rate7.58%7.694%7.42%
1st payment$2,715.99$2,715.99$2,926.52
2nd payment$0.00$260.03$0.00
Taxes / mo$118.75$118.75$118.75
Insurance / mo$166.67$166.67$166.67
MI / mo$186.54$186.54$86.40
HOA / mo$0.00$0.00$0.00
Total monthly$3,187.94$3,447.98$3,298.34
Cash to close$82,671$48,000$48,000