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Comparison

Side-by-side payments and cash to close

Lowest monthly: Current Market Conventional

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$488,012$488,012$504,000
Remaining term (yrs)26.826.830.0
Secondary amount$0$43,988$0
Funding fee$0$0$0
Note rate6.81%6.81%7.11%
Blended rate7.36%7.733%7.35%
1st payment$3,299.97$3,299.97$3,390.44
2nd payment$0.00$435.30$0.00
Taxes / mo$457.50$457.50$457.50
Insurance / mo$166.67$166.67$166.67
MI / mo$231.77$231.77$100.80
HOA / mo$0.00$0.00$0.00
Total monthly$4,155.91$4,591.20$4,115.41
Cash to close$71,988$28,000$56,000