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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$341,416$341,416$405,000
Remaining term (yrs)25.625.630.0
Secondary amount$0$63,584$0
Funding fee$0$0$0
Note rate5.23%5.23%7.18%
Blended rate6.08%6.538%7.42%
1st payment$2,013.14$2,013.14$2,743.61
2nd payment$0.00$476.88$0.00
Taxes / mo$392.33$392.33$392.33
Insurance / mo$150.00$150.00$150.00
MI / mo$258.81$258.81$81.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,814.29$3,291.16$3,366.94
Cash to close$108,584$45,000$45,000