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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$253,300$253,300$360,000
Remaining term (yrs)27.927.930.0
Secondary amount$0$106,700$0
Funding fee$0$0$0
Note rate6.35%6.35%7.18%
Blended rate6.9%7.226%7.42%
1st payment$1,614.47$1,614.47$2,438.77
2nd payment$0.00$711.33$0.00
Taxes / mo$164.33$164.33$164.33
Insurance / mo$150.00$150.00$150.00
MI / mo$118.92$118.92$72.00
HOA / mo$166.67$166.67$166.67
Total monthly$2,214.39$2,925.72$2,991.77
Cash to close$146,700$40,000$40,000