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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$162,844$162,844$346,500
Remaining term (yrs)20.820.830.0
Secondary amount$0$183,656$0
Funding fee$0$0$0
Note rate3.92%3.92%7.18%
Blended rate4.77%6.482%7.42%
1st payment$951.71$951.71$2,347.31
2nd payment$0.00$1,224.37$0.00
Taxes / mo$56.08$56.08$56.08
Insurance / mo$150.00$150.00$150.00
MI / mo$142.58$142.58$69.30
HOA / mo$0.00$0.00$0.00
Total monthly$1,300.37$2,524.74$2,622.70
Cash to close$222,156$38,500$38,500