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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$54,367$54,367$324,000
Remaining term (yrs)12.412.430.0
Secondary amount$0$269,633$0
Funding fee$0$0$0
Note rate5.15%5.15%7.18%
Blended rate6%7.456%7.42%
1st payment$492.29$492.29$2,194.89
2nd payment$0.00$1,741.38$0.00
Taxes / mo$44.50$44.50$44.50
Insurance / mo$150.00$150.00$150.00
MI / mo$63.86$63.86$64.80
HOA / mo$0.00$0.00$0.00
Total monthly$750.65$2,492.03$2,454.19
Cash to close$305,633$36,000$36,000