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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$15,854$15,854$450,000
Remaining term (yrs)24.024.030.0
Secondary amount$0$434,146$0
Funding fee$0$0$0
Note rate6.7%6.7%7.11%
Blended rate7.55%7.743%7.35%
1st payment$110.66$110.66$3,027.18
2nd payment$0.00$2,803.86$0.00
Taxes / mo$411.00$411.00$411.00
Insurance / mo$166.67$166.67$166.67
MI / mo$11.88$11.88$90.00
HOA / mo$0.00$0.00$0.00
Total monthly$700.20$3,504.06$3,694.85
Cash to close$484,146$50,000$50,000