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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$59,976$59,976$202,500
Remaining term (yrs)38.738.730.0
Secondary amount$0$142,524$0
Funding fee$0$0$0
Note rate6.85%6.85%7.18%
Blended rate7.4%7.822%7.42%
1st payment$368.32$368.32$1,371.81
2nd payment$0.00$950.16$0.00
Taxes / mo$82.17$82.17$82.17
Insurance / mo$150.00$150.00$150.00
MI / mo$27.65$27.65$40.50
HOA / mo$0.00$0.00$0.00
Total monthly$628.13$1,578.30$1,644.47
Cash to close$165,024$22,500$22,500