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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$221,229$221,229$265,500
Remaining term (yrs)25.825.830.0
Secondary amount$0$44,271$0
Funding fee$0$0$0
Note rate5.3%5.3%7.18%
Blended rate6.15%6.625%7.42%
1st payment$1,309.72$1,309.72$1,798.59
2nd payment$0.00$332.03$0.00
Taxes / mo$95.33$95.33$95.33
Insurance / mo$150.00$150.00$150.00
MI / mo$167.06$167.06$53.10
HOA / mo$0.00$0.00$0.00
Total monthly$1,722.12$2,054.15$2,097.02
Cash to close$73,771$29,500$29,500