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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$220,959$220,959$382,500
Remaining term (yrs)28.728.730.0
Secondary amount$0$161,541$0
Funding fee$0$0$0
Note rate6.58%6.58%7.18%
Blended rate7.13%7.497%7.42%
1st payment$1,426.68$1,426.68$2,591.19
2nd payment$0.00$1,076.94$0.00
Taxes / mo$150.75$150.75$150.75
Insurance / mo$150.00$150.00$150.00
MI / mo$102.60$102.60$76.50
HOA / mo$356.00$356.00$356.00
Total monthly$2,186.03$3,262.97$3,324.44
Cash to close$204,041$42,500$42,500