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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$143,089$143,089$234,000
Remaining term (yrs)24.024.030.0
Secondary amount$0$90,911$0
Funding fee$0$0$0
Note rate2.5%2.5%7.18%
Blended rate3.35%5.545%7.42%
1st payment$659.54$659.54$1,585.20
2nd payment$0.00$681.83$0.00
Taxes / mo$82.08$82.08$82.08
Insurance / mo$150.00$150.00$150.00
MI / mo$118.24$118.24$46.80
HOA / mo$0.00$0.00$0.00
Total monthly$1,009.85$1,691.69$1,864.08
Cash to close$116,911$26,000$26,000