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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$294,010$294,010$306,000
Remaining term (yrs)27.827.830.0
Secondary amount$0$28,990$0
Funding fee$0$0$0
Note rate6.73%6.73%7.18%
Blended rate7.28%7.692%7.42%
1st payment$1,948.09$1,948.09$2,072.95
2nd payment$0.00$286.88$0.00
Taxes / mo$436.50$436.50$436.50
Insurance / mo$150.00$150.00$150.00
MI / mo$137.95$137.95$61.20
HOA / mo$748.00$748.00$748.00
Total monthly$3,420.54$3,707.42$3,468.65
Cash to close$45,990$17,000$34,000