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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$283,447$283,447$297,000
Remaining term (yrs)38.938.930.0
Secondary amount$0$30,053$0
Funding fee$0$0$0
Note rate6.72%6.72%7.18%
Blended rate7.27%7.711%7.42%
1st payment$1,712.82$1,712.82$2,011.98
2nd payment$0.00$297.40$0.00
Taxes / mo$317.00$317.00$317.00
Insurance / mo$150.00$150.00$150.00
MI / mo$130.58$130.58$59.40
HOA / mo$0.00$0.00$0.00
Total monthly$2,310.40$2,607.79$2,538.38
Cash to close$46,553$16,500$33,000