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$0$0$877,500
Remaining term (yrs)——30.0
Secondary amount$0$877,500$0
Funding fee$0$0$0
Note rate0%0%7.24%
Blended rate0.85%7.75%7.48%
1st payment$0.00$0.00$5,980.15
2nd payment$0.00$5,667.19$0.00
Taxes / mo$390.00$390.00$390.00
Insurance / mo$216.67$216.67$216.67
MI / mo$0.00$0.00$175.50
HOA / mo$0.00$0.00$0.00
Total monthly$606.67$6,273.85$6,762.31
Cash to close$975,000$97,500$97,500