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 · VA
Assumable Loan + Second
Assumable · VA
Current Market Conventional
New · Conventional
Loan amount$488,048$488,048$643,500
Remaining term (yrs)25.225.230.0
Secondary amount$0$155,452$0
Funding fee$2,440$2,440$0
Note rate3.070%3.070%7.400%
Blended rate3.070%4.261%7.640%
1st payment$2,311.79$2,311.79$4,455.46
2nd payment$0.00$1,036.35$0.00
Taxes / mo$238.12$238.12$238.12
Insurance / mo$216.67$216.67$216.67
MI / mo$0.00$0.00$128.70
HOA / mo$0.00$0.00$0.00
Total monthly$2,766.58$3,802.92$5,038.95
Cash to close$226,952$71,500$71,500