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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$253,991$253,991$304,200
Remaining term (yrs)26.626.630.0
Secondary amount$0$50,209$0
Funding fee$0$0$0
Note rate6.39%6.39%7.18%
Blended rate6.94%7.28%7.42%
1st payment$1,653.04$1,653.04$2,060.76
2nd payment$0.00$376.57$0.00
Taxes / mo$92.08$92.08$92.08
Insurance / mo$150.00$150.00$150.00
MI / mo$121.25$121.25$60.84
HOA / mo$0.00$0.00$0.00
Total monthly$2,016.38$2,392.95$2,363.68
Cash to close$84,009$33,800$33,800