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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$358,225$358,225$373,500
Remaining term (yrs)26.626.630.0
Secondary amount$0$36,025$0
Funding fee$0$0$0
Note rate6.39%6.39%7.18%
Blended rate6.94%7.391%7.42%
1st payment$2,331.43$2,331.43$2,530.22
2nd payment$0.00$356.50$0.00
Taxes / mo$168.83$168.83$168.83
Insurance / mo$150.00$150.00$150.00
MI / mo$171.01$171.01$74.70
HOA / mo$17.08$17.08$17.08
Total monthly$2,838.35$3,194.85$2,940.83
Cash to close$56,775$20,750$41,500