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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$458,134$458,134$540,000
Remaining term (yrs)28.028.030.0
Secondary amount$0$81,866$0
Funding fee$0$0$0
Note rate6.090%6.090%7.400%
Blended rate6.640%6.998%7.640%
1st payment$2,837.77$2,837.77$3,738.85
2nd payment$0.00$613.99$0.00
Taxes / mo$46.67$46.67$46.67
Insurance / mo$166.67$166.67$166.67
MI / mo$214.86$214.86$108.00
HOA / mo$146.00$146.00$146.00
Total monthly$3,411.96$4,025.95$4,206.18
Cash to close$141,866$60,000$60,000