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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$256,404$256,404$314,100
Remaining term (yrs)28.228.230.0
Secondary amount$0$57,696$0
Funding fee$0$0$0
Note rate6.93%6.93%7.18%
Blended rate7.48%7.759%7.42%
1st payment$1,724.11$1,724.11$2,127.82
2nd payment$0.00$432.72$0.00
Taxes / mo$103.42$103.42$103.42
Insurance / mo$150.00$150.00$150.00
MI / mo$119.62$119.62$62.82
HOA / mo$0.00$0.00$0.00
Total monthly$2,097.14$2,529.87$2,444.06
Cash to close$92,596$34,900$34,900