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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$16,844$16,844$292,500
Remaining term (yrs)25.025.030.0
Secondary amount$0$275,656$0
Funding fee$0$0$0
Note rate7.18%7.18%7.18%
Blended rate7.73%7.749%7.42%
1st payment$120.85$120.85$1,981.50
2nd payment$0.00$1,780.28$0.00
Taxes / mo$72.92$72.92$72.92
Insurance / mo$150.00$150.00$150.00
MI / mo$8.01$8.01$58.50
HOA / mo$0.00$0.00$0.00
Total monthly$351.77$2,132.05$2,262.91
Cash to close$308,156$32,500$32,500