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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$12,227$12,227$310,410
Remaining term (yrs)25.725.730.0
Secondary amount$0$298,183$0
Funding fee$0$0$0
Note rate6.85%6.85%7.18%
Blended rate7.4%7.736%7.42%
1st payment$84.22$84.22$2,102.83
2nd payment$0.00$1,925.76$0.00
Taxes / mo$168.75$168.75$168.75
Insurance / mo$150.00$150.00$150.00
MI / mo$5.69$5.69$62.08
HOA / mo$86.00$86.00$86.00
Total monthly$494.67$2,420.43$2,569.66
Cash to close$332,673$34,490$34,490