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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$263,670$263,670$297,000
Remaining term (yrs)28.128.130.0
Secondary amount$0$33,330$0
Funding fee$0$0$0
Note rate6.95%6.95%7.18%
Blended rate7.5%7.668%7.42%
1st payment$1,778.12$1,778.12$2,011.98
2nd payment$0.00$249.98$0.00
Taxes / mo$183.58$183.58$183.58
Insurance / mo$150.00$150.00$150.00
MI / mo$123.12$123.12$59.40
HOA / mo$21.00$21.00$21.00
Total monthly$2,255.83$2,505.80$2,425.96
Cash to close$66,330$33,000$33,000