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$355,090$355,090$368,910
Remaining term (yrs)25.725.730.0
Secondary amount$0$34,315$0
Funding fee$0$0$0
Note rate5.000%5.000%7.400%
Blended rate5.850%6.381%7.640%
1st payment$2,042.30$2,042.30$2,554.26
2nd payment$0.00$339.57$0.00
Taxes / mo$264.83$264.83$264.83
Insurance / mo$150.00$150.00$150.00
MI / mo$269.48$269.48$73.78
HOA / mo$125.00$125.00$125.00
Total monthly$2,851.61$3,191.19$3,167.87
Cash to close$54,810$20,495$40,990