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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$360,331$360,331$378,000
Remaining term (yrs)28.328.330.0
Secondary amount$0$38,669$0
Funding fee$0$0$0
Note rate7.04%7.04%7.11%
Blended rate7.59%8.005%7.35%
1st payment$2,446.85$2,446.85$2,542.83
2nd payment$0.00$382.66$0.00
Taxes / mo$355.83$355.83$355.83
Insurance / mo$150.00$150.00$150.00
MI / mo$167.89$167.89$75.60
HOA / mo$0.00$0.00$0.00
Total monthly$3,120.57$3,503.23$3,124.26
Cash to close$59,669$21,000$42,000