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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$196,420$196,420$387,000
Remaining term (yrs)21.421.430.0
Secondary amount$0$190,580$0
Funding fee$0$0$0
Note rate4.22%4.22%7.18%
Blended rate5.07%6.513%7.42%
1st payment$1,159.46$1,159.46$2,621.67
2nd payment$0.00$1,270.53$0.00
Taxes / mo$227.67$227.67$227.67
Insurance / mo$150.00$150.00$150.00
MI / mo$167.55$167.55$77.40
HOA / mo$98.00$98.00$98.00
Total monthly$1,802.68$3,073.21$3,174.74
Cash to close$233,580$43,000$43,000