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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$77,311$77,311$126,000
Remaining term (yrs)24.624.630.0
Secondary amount$0$48,689$0
Funding fee$0$0$0
Note rate3.08%3.08%7.18%
Blended rate3.93%5.889%7.42%
1st payment$373.17$373.17$853.57
2nd payment$0.00$365.16$0.00
Taxes / mo$20.33$20.33$20.33
Insurance / mo$150.00$150.00$150.00
MI / mo$62.06$62.06$25.20
HOA / mo$0.00$0.00$0.00
Total monthly$605.56$970.72$1,049.10
Cash to close$62,689$14,000$14,000