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$417,080$417,080$470,700
Remaining term (yrs)28.528.530.0
Secondary amount$0$53,620$0
Funding fee$0$0$0
Note rate6.650%6.650%7.400%
Blended rate7.200%7.405%7.640%
1st payment$2,717.31$2,717.31$3,259.03
2nd payment$0.00$402.15$0.00
Taxes / mo$173.92$173.92$173.92
Insurance / mo$166.67$166.67$166.67
MI / mo$194.00$194.00$94.14
HOA / mo$44.00$44.00$44.00
Total monthly$3,295.90$3,698.04$3,737.76
Cash to close$105,920$52,300$52,300