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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$309,401$309,401$346,500
Remaining term (yrs)28.528.530.0
Secondary amount$0$37,099$0
Funding fee$0$0$0
Note rate6.76%6.76%7.18%
Blended rate7.31%7.491%7.42%
1st payment$2,040.01$2,040.01$2,347.31
2nd payment$0.00$278.24$0.00
Taxes / mo$92.17$92.17$92.17
Insurance / mo$150.00$150.00$150.00
MI / mo$144.01$144.01$69.30
HOA / mo$0.00$0.00$0.00
Total monthly$2,426.19$2,704.43$2,658.78
Cash to close$75,599$38,500$38,500