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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$385,414$385,414$405,000
Remaining term (yrs)26.626.630.0
Secondary amount$0$42,086$0
Funding fee$0$0$0
Note rate6.39%6.39%7.18%
Blended rate6.94%7.426%7.42%
1st payment$2,511.35$2,511.35$2,743.61
2nd payment$0.00$416.47$0.00
Taxes / mo$121.67$121.67$121.67
Insurance / mo$150.00$150.00$150.00
MI / mo$184.21$184.21$81.00
HOA / mo$57.67$57.67$57.67
Total monthly$3,024.90$3,441.37$3,153.95
Cash to close$64,586$22,500$45,000