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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$226,225$226,225$319,500
Remaining term (yrs)28.828.830.0
Secondary amount$0$93,275$0
Funding fee$0$0$0
Note rate6.63%6.63%7.18%
Blended rate7.18%7.711%7.42%
1st payment$1,466.67$1,466.67$2,164.40
2nd payment$0.00$699.56$0.00
Taxes / mo$137.67$137.67$137.67
Insurance / mo$150.00$150.00$150.00
MI / mo$104.93$104.93$63.90
HOA / mo$70.00$70.00$70.00
Total monthly$1,929.26$2,628.82$2,585.97
Cash to close$128,775$35,500$35,500