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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$397,012$397,012$404,100
Remaining term (yrs)27.527.530.0
Secondary amount$0$29,538$0
Funding fee$0$0$0
Note rate6.820%6.820%7.400%
Blended rate7.370%7.682%7.640%
1st payment$2,661.92$2,661.92$2,797.91
2nd payment$0.00$292.30$0.00
Taxes / mo$30.50$30.50$30.50
Insurance / mo$150.00$150.00$150.00
MI / mo$186.76$186.76$80.82
HOA / mo$0.00$0.00$0.00
Total monthly$3,029.18$3,321.48$3,059.23
Cash to close$51,988$22,450$44,900