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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$166,593$166,593$342,000
Remaining term (yrs)20.720.730.0
Secondary amount$0$175,407$0
Funding fee$0$0$0
Note rate3.96%3.96%7.18%
Blended rate4.81%6.446%7.42%
1st payment$979.66$979.66$2,316.83
2nd payment$0.00$1,169.38$0.00
Taxes / mo$83.33$83.33$83.33
Insurance / mo$150.00$150.00$150.00
MI / mo$146.06$146.06$68.40
HOA / mo$0.00$0.00$0.00
Total monthly$1,359.05$2,528.43$2,618.56
Cash to close$213,407$38,000$38,000