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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$405,751$405,751$521,910
Remaining term (yrs)27.827.830.0
Secondary amount$0$116,159$0
Funding fee$0$0$0
Note rate6.85%6.85%7.18%
Blended rate7.4%7.534%7.42%
1st payment$2,720.24$2,720.24$3,535.60
2nd payment$0.00$774.40$0.00
Taxes / mo$90.33$90.33$90.33
Insurance / mo$166.67$166.67$166.67
MI / mo$190.27$190.27$104.38
HOA / mo$0.00$0.00$0.00
Total monthly$3,167.52$3,941.91$3,896.98
Cash to close$174,149$57,990$57,990