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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$219,158$219,158$243,000
Remaining term (yrs)25.725.730.0
Secondary amount$0$37,342$0
Funding fee$0$0$0
Note rate5.3%5.3%7.18%
Blended rate6.15%6.983%7.42%
1st payment$1,299.41$1,299.41$1,646.17
2nd payment$0.00$369.53$0.00
Taxes / mo$45.58$45.58$45.58
Insurance / mo$150.00$150.00$150.00
MI / mo$165.75$165.75$48.60
HOA / mo$356.00$356.00$356.00
Total monthly$2,016.75$2,386.27$2,246.35
Cash to close$50,842$13,500$27,000