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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$487,062$487,062$485,550
Remaining term (yrs)28.828.830.0
Secondary amount$0$25,463$0
Funding fee$0$0$0
Note rate6.630%6.630%7.320%
Blended rate7.180%7.413%7.560%
1st payment$3,154.72$3,154.72$3,335.39
2nd payment$0.00$251.97$0.00
Taxes / mo$136.17$136.17$136.17
Insurance / mo$166.67$166.67$166.67
MI / mo$225.70$225.70$97.11
HOA / mo$0.00$0.00$0.00
Total monthly$3,683.26$3,935.23$3,735.33
Cash to close$52,438$26,975$53,950