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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$22,510$22,510$270,000
Remaining term (yrs)24.624.630.0
Secondary amount$0$247,490$0
Funding fee$0$0$0
Note rate6.3%6.3%7.18%
Blended rate6.85%7.675%7.42%
1st payment$149.81$149.81$1,829.07
2nd payment$0.00$1,598.37$0.00
Taxes / mo$90.33$90.33$90.33
Insurance / mo$150.00$150.00$150.00
MI / mo$10.36$10.36$54.00
HOA / mo$0.00$0.00$0.00
Total monthly$400.50$1,998.88$2,123.41
Cash to close$277,490$30,000$30,000