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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$388,013$388,013$477,000
Remaining term (yrs)26.726.730.0
Secondary amount$0$88,987$0
Funding fee$0$0$0
Note rate6.780%6.780%7.400%
Blended rate7.330%7.642%7.640%
1st payment$2,619.11$2,619.11$3,302.65
2nd payment$0.00$667.40$0.00
Taxes / mo$112.75$112.75$112.75
Insurance / mo$166.67$166.67$166.67
MI / mo$184.51$184.51$95.40
HOA / mo$0.00$0.00$0.00
Total monthly$3,083.04$3,750.45$3,677.47
Cash to close$141,987$53,000$53,000