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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$457,474$457,474$468,000
Remaining term (yrs)27.827.830.0
Secondary amount$0$36,526$0
Funding fee$0$0$0
Note rate6.490%6.490%7.320%
Blended rate7.040%7.397%7.560%
1st payment$2,960.10$2,960.10$3,214.84
2nd payment$0.00$361.46$0.00
Taxes / mo$199.67$199.67$199.67
Insurance / mo$166.67$166.67$166.67
MI / mo$214.87$214.87$93.60
HOA / mo$91.00$91.00$91.00
Total monthly$3,632.31$3,993.76$3,765.77
Cash to close$62,526$26,000$52,000