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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$429,708$429,708$539,910
Remaining term (yrs)26.826.830.0
Secondary amount$0$110,202$0
Funding fee$0$0$0
Note rate6.81%6.81%7.18%
Blended rate7.36%7.491%7.42%
1st payment$2,905.72$2,905.72$3,657.54
2nd payment$0.00$734.68$0.00
Taxes / mo$168.42$168.42$168.42
Insurance / mo$166.67$166.67$166.67
MI / mo$204.08$204.08$107.98
HOA / mo$100.00$100.00$100.00
Total monthly$3,544.88$4,279.56$4,200.60
Cash to close$170,192$59,990$59,990