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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$318,946$318,946$333,000
Remaining term (yrs)28.528.530.0
Secondary amount$0$32,554$0
Funding fee$0$0$0
Note rate6.63%6.63%7.18%
Blended rate7.18%7.615%7.42%
1st payment$2,075.82$2,075.82$2,255.86
2nd payment$0.00$322.15$0.00
Taxes / mo$454.17$454.17$454.17
Insurance / mo$150.00$150.00$150.00
MI / mo$148.51$148.51$66.60
HOA / mo$0.00$0.00$0.00
Total monthly$2,828.50$3,150.64$2,926.62
Cash to close$51,054$18,500$37,000