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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$16,332$16,332$256,499
Remaining term (yrs)22.622.630.0
Secondary amount$0$240,167$0
Funding fee$0$0$0
Note rate5%5%7.18%
Blended rate5.85%7.629%7.42%
1st payment$100.28$100.28$1,737.61
2nd payment$0.00$1,551.08$0.00
Taxes / mo$110.75$110.75$110.75
Insurance / mo$150.00$150.00$150.00
MI / mo$12.62$12.62$51.30
HOA / mo$122.00$122.00$122.00
Total monthly$495.64$2,046.72$2,171.66
Cash to close$268,667$28,500$28,500