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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$140,389$140,389$215,100
Remaining term (yrs)24.124.130.0
Secondary amount$0$74,711$0
Funding fee$0$0$0
Note rate2.77%2.77%7.18%
Blended rate3.62%5.489%7.42%
1st payment$663.01$663.01$1,457.16
2nd payment$0.00$560.33$0.00
Taxes / mo$34.75$34.75$34.75
Insurance / mo$150.00$150.00$150.00
MI / mo$114.74$114.74$43.02
HOA / mo$283.00$283.00$283.00
Total monthly$1,245.50$1,805.83$1,967.93
Cash to close$98,611$23,900$23,900