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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$271,022$271,022$305,999
Remaining term (yrs)26.826.830.0
Secondary amount$0$34,977$0
Funding fee$0$0$0
Note rate6.81%6.81%7.18%
Blended rate7.36%7.547%7.42%
1st payment$1,832.67$1,832.67$2,072.94
2nd payment$0.00$262.33$0.00
Taxes / mo$89.04$89.04$89.04
Insurance / mo$150.00$150.00$150.00
MI / mo$128.71$128.71$61.20
HOA / mo$205.00$205.00$205.00
Total monthly$2,405.43$2,667.75$2,578.19
Cash to close$68,977$34,000$34,000