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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$476$476$504,000
Remaining term (yrs)27.127.130.0
Secondary amount$0$503,524$0
Funding fee$0$0$0
Note rate7.57%7.57%7.18%
Blended rate8.12%7.75%7.42%
1st payment$3.45$3.45$3,414.27
2nd payment$0.00$3,251.92$0.00
Taxes / mo$274.75$274.75$274.75
Insurance / mo$166.67$166.67$166.67
MI / mo$0.22$0.22$100.80
HOA / mo$63.00$63.00$63.00
Total monthly$508.09$3,760.01$4,019.49
Cash to close$559,524$56,000$56,000