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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$215,156$215,156$359,100
Remaining term (yrs)27.527.530.0
Secondary amount$0$143,944$0
Funding fee$0$0$0
Note rate6.94%6.94%7.18%
Blended rate7.49%7.694%7.42%
1st payment$1,460.92$1,460.92$2,432.67
2nd payment$0.00$959.62$0.00
Taxes / mo$30.42$30.42$30.42
Insurance / mo$150.00$150.00$150.00
MI / mo$101.26$101.26$71.82
HOA / mo$0.00$0.00$0.00
Total monthly$1,742.59$2,702.22$2,684.91
Cash to close$183,844$39,900$39,900