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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$406,389$406,389$679,500
Remaining term (yrs)21.921.930.0
Secondary amount$0$273,111$0
Funding fee$0$0$0
Note rate2.93%2.93%7.18%
Blended rate3.78%5.376%7.42%
1st payment$2,090.24$2,090.24$4,603.17
2nd payment$0.00$1,763.84$0.00
Taxes / mo$315.17$315.17$315.17
Insurance / mo$216.67$216.67$216.67
MI / mo$339.15$339.15$135.90
HOA / mo$514.00$514.00$514.00
Total monthly$3,475.22$5,239.06$5,784.90
Cash to close$348,611$75,500$75,500