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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$112,080$112,080$224,100
Remaining term (yrs)10.010.030.0
Secondary amount$0$112,020$0
Funding fee$0$0$0
Note rate6.36%6.36%7.18%
Blended rate7.21%7.605%7.42%
1st payment$1,257.19$1,257.19$1,518.13
2nd payment$0.00$746.80$0.00
Taxes / mo$37.00$37.00$37.00
Insurance / mo$150.00$150.00$150.00
MI / mo$142.96$142.96$44.82
HOA / mo$0.00$0.00$0.00
Total monthly$1,587.15$2,333.96$1,749.95
Cash to close$136,920$24,900$24,900