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$376,402$376,402$413,991
Remaining term (yrs)28.528.530.0
Secondary amount$0$37,589$0
Funding fee$0$0$0
Note rate6.500%6.500%7.400%
Blended rate7.050%7.227%7.640%
1st payment$2,417.93$2,417.93$2,866.39
2nd payment$0.00$281.92$0.00
Taxes / mo$27.58$27.58$27.58
Insurance / mo$166.67$166.67$166.67
MI / mo$175.33$175.33$82.80
HOA / mo$153.00$153.00$153.00
Total monthly$2,940.51$3,222.43$3,296.44
Cash to close$83,588$45,999$45,999