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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$143,690$143,690$184,500
Remaining term (yrs)27.627.630.0
Secondary amount$0$40,810$0
Funding fee$0$0$0
Note rate7.1%7.1%7.18%
Blended rate7.65%7.949%7.42%
1st payment$989.79$989.79$1,249.87
2nd payment$0.00$306.08$0.00
Taxes / mo$90.08$90.08$90.08
Insurance / mo$150.00$150.00$150.00
MI / mo$67.50$67.50$36.90
HOA / mo$0.00$0.00$0.00
Total monthly$1,297.38$1,603.45$1,526.85
Cash to close$61,310$20,500$20,500