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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$57,158$57,158$283,500
Remaining term (yrs)27.127.130.0
Secondary amount$0$226,342$0
Funding fee$0$0$0
Note rate7.79%7.79%7.18%
Blended rate8.34%7.869%7.42%
1st payment$422.27$422.27$1,920.53
2nd payment$0.00$1,461.79$0.00
Taxes / mo$149.33$149.33$149.33
Insurance / mo$150.00$150.00$150.00
MI / mo$26.91$26.91$56.70
HOA / mo$123.33$123.33$123.33
Total monthly$871.85$2,333.64$2,399.89
Cash to close$257,842$31,500$31,500