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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$242,008$242,008$296,100
Remaining term (yrs)26.226.230.0
Secondary amount$0$54,092$0
Funding fee$0$0$0
Note rate6.36%6.36%7.18%
Blended rate7.21%7.537%7.42%
1st payment$1,579.95$1,579.95$2,005.88
2nd payment$0.00$405.69$0.00
Taxes / mo$159.67$159.67$159.67
Insurance / mo$150.00$150.00$150.00
MI / mo$179.67$179.67$59.22
HOA / mo$123.33$123.33$123.33
Total monthly$2,192.62$2,598.31$2,498.10
Cash to close$86,992$32,900$32,900