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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$337,311$337,311$414,000
Remaining term (yrs)26.126.130.0
Secondary amount$0$76,689$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.411%7.42%
1st payment$2,237.37$2,237.37$2,804.58
2nd payment$0.00$575.17$0.00
Taxes / mo$133.25$133.25$133.25
Insurance / mo$166.67$166.67$166.67
MI / mo$160.43$160.43$82.80
HOA / mo$50.00$50.00$50.00
Total monthly$2,747.71$3,322.88$3,237.30
Cash to close$122,689$46,000$46,000