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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$570,641$570,641$697,500
Remaining term (yrs)23.523.530.0
Secondary amount$0$126,859$0
Funding fee$0$0$0
Note rate3.02%3.02%7.18%
Blended rate3.87%4.621%7.42%
1st payment$2,821.41$2,821.41$4,725.11
2nd payment$0.00$845.73$0.00
Taxes / mo$210.08$210.08$210.08
Insurance / mo$216.67$216.67$216.67
MI / mo$472.81$472.81$139.50
HOA / mo$0.00$0.00$0.00
Total monthly$3,720.97$4,566.70$5,291.36
Cash to close$204,359$77,500$77,500