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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$47,369$47,369$224,910
Remaining term (yrs)7.27.230.0
Secondary amount$0$177,541$0
Funding fee$0$0$0
Note rate5.65%5.65%7.18%
Blended rate6.5%7.684%7.42%
1st payment$658.73$658.73$1,523.62
2nd payment$0.00$1,183.60$0.00
Taxes / mo$76.42$76.42$76.42
Insurance / mo$150.00$150.00$150.00
MI / mo$80.83$80.83$44.98
HOA / mo$0.00$0.00$0.00
Total monthly$965.98$2,149.58$1,795.02
Cash to close$202,531$24,990$24,990