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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$158,340$158,340$387,000
Remaining term (yrs)20.920.930.0
Secondary amount$0$228,660$0
Funding fee$0$0$0
Note rate3.89%3.89%7.18%
Blended rate4.74%6.518%7.42%
1st payment$920.50$920.50$2,621.67
2nd payment$0.00$1,476.76$0.00
Taxes / mo$104.75$104.75$104.75
Insurance / mo$150.00$150.00$150.00
MI / mo$138.40$138.40$77.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,313.65$2,790.42$2,953.82
Cash to close$271,660$43,000$43,000