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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$254,553$254,553$265,500
Remaining term (yrs)28.128.130.0
Secondary amount$0$25,697$0
Funding fee$0$0$0
Note rate6.08%6.08%7.18%
Blended rate6.63%7.111%7.42%
1st payment$1,575.13$1,575.13$1,798.59
2nd payment$0.00$254.30$0.00
Taxes / mo$88.75$88.75$88.75
Insurance / mo$150.00$150.00$150.00
MI / mo$119.39$119.39$53.10
HOA / mo$2.08$2.08$2.08
Total monthly$1,935.35$2,189.64$2,092.52
Cash to close$40,447$14,750$29,500