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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$107,576$107,576$292,500
Remaining term (yrs)20.220.230.0
Secondary amount$0$184,924$0
Funding fee$0$0$0
Note rate4.13%4.13%7.18%
Blended rate4.98%6.889%7.42%
1st payment$652.33$652.33$1,981.50
2nd payment$0.00$1,232.83$0.00
Taxes / mo$58.25$58.25$58.25
Insurance / mo$150.00$150.00$150.00
MI / mo$95.28$95.28$58.50
HOA / mo$0.00$0.00$0.00
Total monthly$955.87$2,188.69$2,248.25
Cash to close$217,424$32,500$32,500