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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$8,101$8,101$216,000
Remaining term (yrs)24.624.630.0
Secondary amount$0$207,899$0
Funding fee$0$0$0
Note rate7.09%7.09%7.18%
Blended rate7.64%7.746%7.42%
1st payment$57.94$57.94$1,463.26
2nd payment$0.00$1,342.68$0.00
Taxes / mo$156.83$156.83$156.83
Insurance / mo$150.00$150.00$150.00
MI / mo$3.83$3.83$43.20
HOA / mo$91.00$91.00$91.00
Total monthly$459.60$1,802.28$1,904.29
Cash to close$231,899$24,000$24,000