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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$202,604$202,604$220,500
Remaining term (yrs)27.527.530.0
Secondary amount$0$30,146$0
Funding fee$0$0$0
Note rate6.82%6.82%7.18%
Blended rate7.37%7.953%7.42%
1st payment$1,359.82$1,359.82$1,493.74
2nd payment$0.00$298.32$0.00
Taxes / mo$103.83$103.83$103.83
Insurance / mo$150.00$150.00$150.00
MI / mo$95.41$95.41$44.10
HOA / mo$0.00$0.00$0.00
Total monthly$1,709.06$2,007.38$1,791.68
Cash to close$42,396$12,250$24,500