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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$12,163$12,163$342,000
Remaining term (yrs)28.828.830.0
Secondary amount$0$329,837$0
Funding fee$0$0$0
Note rate6.26%6.26%7.11%
Blended rate6.81%7.717%7.35%
1st payment$75.93$75.93$2,300.66
2nd payment$0.00$2,130.20$0.00
Taxes / mo$379.67$379.67$379.67
Insurance / mo$150.00$150.00$150.00
MI / mo$5.65$5.65$68.40
HOA / mo$0.00$0.00$0.00
Total monthly$611.24$2,741.44$2,898.72
Cash to close$367,837$38,000$38,000