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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$164,008$164,008$260,100
Remaining term (yrs)27.927.930.0
Secondary amount$0$96,092$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.77%7.42%
1st payment$1,061.16$1,061.16$1,762.01
2nd payment$0.00$720.69$0.00
Taxes / mo$86.50$86.50$86.50
Insurance / mo$150.00$150.00$150.00
MI / mo$76.95$76.95$52.02
HOA / mo$8.00$8.00$8.00
Total monthly$1,382.61$2,103.30$2,058.53
Cash to close$124,992$28,900$28,900