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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$165,987$165,987$360,000
Remaining term (yrs)19.619.630.0
Secondary amount$0$194,013$0
Funding fee$0$0$0
Note rate3.61%3.61%7.18%
Blended rate4.46%6.368%7.42%
1st payment$983.32$983.32$2,438.77
2nd payment$0.00$1,293.42$0.00
Taxes / mo$213.83$213.83$213.83
Insurance / mo$150.00$150.00$150.00
MI / mo$153.01$153.01$72.00
HOA / mo$140.00$140.00$140.00
Total monthly$1,640.16$2,933.58$3,014.60
Cash to close$234,013$40,000$40,000