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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$65,007$65,007$346,500
Remaining term (yrs)16.616.630.0
Secondary amount$0$281,493$0
Funding fee$0$0$0
Note rate3.51%3.51%7.18%
Blended rate4.36%7.114%7.42%
1st payment$428.22$428.22$2,347.31
2nd payment$0.00$1,817.97$0.00
Taxes / mo$80.00$80.00$80.00
Insurance / mo$150.00$150.00$150.00
MI / mo$67.46$67.46$69.30
HOA / mo$0.00$0.00$0.00
Total monthly$725.68$2,543.65$2,646.61
Cash to close$319,993$38,500$38,500