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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$194,386$194,386$261,000
Remaining term (yrs)24.824.830.0
Secondary amount$0$66,614$0
Funding fee$0$0$0
Note rate2.71%2.71%7.18%
Blended rate3.56%4.948%7.42%
1st payment$894.84$894.84$1,768.10
2nd payment$0.00$499.61$0.00
Taxes / mo$124.50$124.50$124.50
Insurance / mo$150.00$150.00$150.00
MI / mo$156.07$156.07$52.20
HOA / mo$55.00$55.00$55.00
Total monthly$1,380.41$1,880.01$2,149.80
Cash to close$95,614$29,000$29,000