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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$6,882$6,882$233,910
Remaining term (yrs)1.11.130.0
Secondary amount$0$227,028$0
Funding fee$0$0$0
Note rate5.49%5.49%7.18%
Blended rate6.34%7.709%7.42%
1st payment$475.80$475.80$1,584.59
2nd payment$0.00$1,466.22$0.00
Taxes / mo$127.08$127.08$127.08
Insurance / mo$150.00$150.00$150.00
MI / mo$59.42$59.42$46.78
HOA / mo$0.00$0.00$0.00
Total monthly$812.31$2,278.53$1,908.45
Cash to close$253,018$25,990$25,990