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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$192,799$192,799$243,000
Remaining term (yrs)27.727.730.0
Secondary amount$0$50,201$0
Funding fee$0$0$0
Note rate6.92%6.92%7.18%
Blended rate7.47%7.786%7.42%
1st payment$1,302.69$1,302.69$1,646.17
2nd payment$0.00$376.51$0.00
Taxes / mo$69.08$69.08$69.08
Insurance / mo$150.00$150.00$150.00
MI / mo$90.47$90.47$48.60
HOA / mo$0.00$0.00$0.00
Total monthly$1,612.24$1,988.75$1,913.85
Cash to close$77,201$27,000$27,000