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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$6,115$6,115$112,500
Remaining term (yrs)25.725.730.0
Secondary amount$0$106,385$0
Funding fee$0$0$0
Note rate6.87%6.87%7.18%
Blended rate7.42%7.968%7.42%
1st payment$42.20$42.20$762.11
2nd payment$0.00$709.23$0.00
Taxes / mo$9.42$9.42$9.42
Insurance / mo$150.00$150.00$150.00
MI / mo$2.88$2.88$22.50
HOA / mo$0.00$0.00$0.00
Total monthly$204.50$913.73$944.03
Cash to close$118,885$12,500$12,500