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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$48,751$48,751$296,999
Remaining term (yrs)7.37.330.0
Secondary amount$0$248,248$0
Funding fee$0$0$0
Note rate5.5%5.5%7.18%
Blended rate6.35%7.52%7.42%
1st payment$668.30$668.30$2,011.98
2nd payment$0.00$1,603.27$0.00
Taxes / mo$95.92$95.92$95.92
Insurance / mo$150.00$150.00$150.00
MI / mo$83.37$83.37$59.40
HOA / mo$38.00$38.00$38.00
Total monthly$1,035.59$2,638.86$2,355.29
Cash to close$281,248$33,000$33,000