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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$121,656$121,656$373,500
Remaining term (yrs)26.126.130.0
Secondary amount$0$251,844$0
Funding fee$0$0$0
Note rate6.81%6.81%7.18%
Blended rate7.66%7.721%7.42%
1st payment$830.01$830.01$2,530.22
2nd payment$0.00$1,626.49$0.00
Taxes / mo$176.08$176.08$176.08
Insurance / mo$150.00$150.00$150.00
MI / mo$90.09$90.09$74.70
HOA / mo$92.00$92.00$92.00
Total monthly$1,338.19$2,964.68$3,023.00
Cash to close$293,344$41,500$41,500