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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$7,284$7,284$342,000
Remaining term (yrs)24.224.230.0
Secondary amount$0$334,716$0
Funding fee$0$0$0
Note rate6.84%6.84%7.18%
Blended rate7.39%7.742%7.42%
1st payment$51.34$51.34$2,316.83
2nd payment$0.00$2,161.71$0.00
Taxes / mo$173.83$173.83$173.83
Insurance / mo$150.00$150.00$150.00
MI / mo$3.43$3.43$68.40
HOA / mo$86.00$86.00$86.00
Total monthly$464.60$2,626.31$2,795.06
Cash to close$372,716$38,000$38,000