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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$306,960$306,960$404,910
Remaining term (yrs)26.626.630.0
Secondary amount$0$97,950$0
Funding fee$0$0$0
Note rate6.43%6.43%7.18%
Blended rate6.98%7.469%7.42%
1st payment$2,007.93$2,007.93$2,743.00
2nd payment$0.00$734.62$0.00
Taxes / mo$120.33$120.33$120.33
Insurance / mo$150.00$150.00$150.00
MI / mo$146.67$146.67$80.98
HOA / mo$106.00$106.00$106.00
Total monthly$2,530.93$3,265.55$3,200.32
Cash to close$142,940$44,990$44,990