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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$419,962$419,962$499,410
Remaining term (yrs)29.029.030.0
Secondary amount$0$79,448$0
Funding fee$0$0$0
Note rate6.5%6.5%7.11%
Blended rate7.05%7.36%7.35%
1st payment$2,681.85$2,681.85$3,359.56
2nd payment$0.00$595.86$0.00
Taxes / mo$352.83$352.83$352.83
Insurance / mo$166.67$166.67$166.67
MI / mo$194.47$194.47$99.88
HOA / mo$0.00$0.00$0.00
Total monthly$3,395.82$3,991.68$3,978.94
Cash to close$134,938$55,490$55,490