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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$238,105$238,105$265,500
Remaining term (yrs)27.127.130.0
Secondary amount$0$27,395$0
Funding fee$0$0$0
Note rate6.95%6.95%7.18%
Blended rate7.5%7.655%7.42%
1st payment$1,624.89$1,624.89$1,798.59
2nd payment$0.00$205.46$0.00
Taxes / mo$148.42$148.42$148.42
Insurance / mo$150.00$150.00$150.00
MI / mo$112.51$112.51$53.10
HOA / mo$0.00$0.00$0.00
Total monthly$2,035.81$2,241.28$2,150.11
Cash to close$56,895$29,500$29,500