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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$490,507$490,507$674,991
Remaining term (yrs)26.126.130.0
Secondary amount$0$184,484$0
Funding fee$0$0$0
Note rate6.31%6.31%7.18%
Blended rate7.16%7.39%7.42%
1st payment$3,190.80$3,190.80$4,572.62
2nd payment$0.00$1,229.89$0.00
Taxes / mo$222.58$222.58$222.58
Insurance / mo$216.67$216.67$216.67
MI / mo$364.76$364.76$135.00
HOA / mo$71.67$71.67$71.67
Total monthly$4,066.48$5,296.37$5,218.54
Cash to close$259,483$74,999$74,999