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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$302,235$302,235$364,500
Remaining term (yrs)27.427.430.0
Secondary amount$0$62,265$0
Funding fee$0$0$0
Note rate6.940%6.940%7.320%
Blended rate7.490%7.748%7.560%
1st payment$2,052.19$2,052.19$2,503.86
2nd payment$0.00$466.99$0.00
Taxes / mo$58.25$58.25$58.25
Insurance / mo$150.00$150.00$150.00
MI / mo$142.24$142.24$72.90
HOA / mo$0.00$0.00$0.00
Total monthly$2,402.68$2,869.66$2,785.01
Cash to close$102,765$40,500$40,500