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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$406,152$406,152$539,910
Remaining term (yrs)27.827.830.0
Secondary amount$0$133,758$0
Funding fee$0$0$0
Note rate6.850%6.850%7.240%
Blended rate7.400%7.549%7.480%
1st payment$2,720.24$2,720.24$3,679.48
2nd payment$0.00$891.72$0.00
Taxes / mo$90.33$90.33$90.33
Insurance / mo$166.67$166.67$166.67
MI / mo$190.27$190.27$107.98
HOA / mo$0.00$0.00$0.00
Total monthly$3,167.52$4,059.23$4,044.46
Cash to close$193,748$59,990$59,990