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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$215,087$215,087$312,300
Remaining term (yrs)26.126.130.0
Secondary amount$0$97,213$0
Funding fee$0$0$0
Note rate6.95%6.95%7.18%
Blended rate7.8%8.174%7.42%
1st payment$1,488.50$1,488.50$2,115.63
2nd payment$0.00$729.09$0.00
Taxes / mo$220.00$220.00$220.00
Insurance / mo$150.00$150.00$150.00
MI / mo$159.28$159.28$62.46
HOA / mo$85.00$85.00$85.00
Total monthly$2,102.78$2,831.88$2,633.09
Cash to close$131,913$34,700$34,700