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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$310,894$310,894$382,500
Remaining term (yrs)29.029.030.0
Secondary amount$0$71,606$0
Funding fee$0$0$0
Note rate6.3%6.3%7.11%
Blended rate6.85%7.252%7.35%
1st payment$1,944.99$1,944.99$2,573.10
2nd payment$0.00$537.04$0.00
Taxes / mo$23.00$23.00$23.00
Insurance / mo$150.00$150.00$150.00
MI / mo$144.02$144.02$76.50
HOA / mo$292.00$292.00$292.00
Total monthly$2,554.01$3,091.06$3,114.60
Cash to close$114,106$42,500$42,500