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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$395,098$395,098$405,000
Remaining term (yrs)28.028.030.0
Secondary amount$0$32,402$0
Funding fee$0$0$0
Note rate6.2%6.2%7.18%
Blended rate6.75%7.138%7.42%
1st payment$2,477.66$2,477.66$2,743.61
2nd payment$0.00$320.65$0.00
Taxes / mo$463.67$463.67$463.67
Insurance / mo$150.00$150.00$150.00
MI / mo$185.41$185.41$81.00
HOA / mo$0.00$0.00$0.00
Total monthly$3,276.74$3,597.39$3,438.28
Cash to close$54,902$22,500$45,000