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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$462,316$462,316$522,000
Remaining term (yrs)26.626.630.0
Secondary amount$0$59,684$0
Funding fee$0$0$0
Note rate6.39%6.39%7.18%
Blended rate6.94%7.176%7.42%
1st payment$3,012.45$3,012.45$3,536.21
2nd payment$0.00$447.63$0.00
Taxes / mo$64.83$64.83$64.83
Insurance / mo$166.67$166.67$166.67
MI / mo$220.97$220.97$104.40
HOA / mo$0.00$0.00$0.00
Total monthly$3,464.91$3,912.54$3,872.11
Cash to close$117,684$58,000$58,000