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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$40,615$40,615$405,000
Remaining term (yrs)38.438.430.0
Secondary amount$0$364,385$0
Funding fee$0$0$0
Note rate6.91%6.91%7.11%
Blended rate7.46%7.721%7.35%
1st payment$251.60$251.60$2,724.46
2nd payment$0.00$2,353.32$0.00
Taxes / mo$350.42$350.42$350.42
Insurance / mo$150.00$150.00$150.00
MI / mo$18.75$18.75$81.00
HOA / mo$0.00$0.00$0.00
Total monthly$770.77$3,124.10$3,305.88
Cash to close$409,385$45,000$45,000