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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$331,656$331,656$1,080,000
Remaining term (yrs)24.724.730.0
Secondary amount$0$748,344$0
Funding fee$0$0$0
Note rate3.04%3.04%7.18%
Blended rate3.89%6.565%7.42%
1st payment$1,586.74$1,586.74$7,316.30
2nd payment$0.00$4,833.06$0.00
Taxes / mo$324.17$324.17$324.17
Insurance / mo$216.67$216.67$216.67
MI / mo$265.23$265.23$216.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,392.81$7,225.86$8,073.13
Cash to close$868,344$120,000$120,000