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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$159,019$159,019$346,500
Remaining term (yrs)19.619.630.0
Secondary amount$0$187,481$0
Funding fee$0$0$0
Note rate3.71%3.71%7.18%
Blended rate4.56%6.421%7.42%
1st payment$950.25$950.25$2,347.31
2nd payment$0.00$1,249.87$0.00
Taxes / mo$123.17$123.17$123.17
Insurance / mo$150.00$150.00$150.00
MI / mo$146.06$146.06$69.30
HOA / mo$0.00$0.00$0.00
Total monthly$1,369.47$2,619.35$2,689.78
Cash to close$225,981$38,500$38,500