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$407,484$407,484$692,100
Remaining term (yrs)22.022.030.0
Secondary amount$0$284,616$0
Funding fee$0$0$0
Note rate2.930%2.930%7.400%
Blended rate3.780%5.413%7.640%
1st payment$2,090.24$2,090.24$4,791.96
2nd payment$0.00$1,838.14$0.00
Taxes / mo$315.17$315.17$315.17
Insurance / mo$216.67$216.67$216.67
MI / mo$339.15$339.15$138.42
HOA / mo$514.00$514.00$514.00
Total monthly$3,475.22$5,313.36$5,976.21
Cash to close$361,516$76,900$76,900