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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$176,350$176,350$288,000
Remaining term (yrs)27.127.130.0
Secondary amount$0$111,650$0
Funding fee$0$0$0
Note rate7.62%7.62%7.18%
Blended rate8.17%8.104%7.42%
1st payment$1,282.73$1,282.73$1,951.01
2nd payment$0.00$744.33$0.00
Taxes / mo$101.58$101.58$101.58
Insurance / mo$150.00$150.00$150.00
MI / mo$83.10$83.10$57.60
HOA / mo$0.00$0.00$0.00
Total monthly$1,617.42$2,361.75$2,260.20
Cash to close$143,650$32,000$32,000