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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$96,532$96,532$157,410
Remaining term (yrs)23.823.830.0
Secondary amount$0$60,878$0
Funding fee$0$0$0
Note rate2.9%2.9%7.18%
Blended rate3.75%5.78%7.42%
1st payment$466.76$466.76$1,066.35
2nd payment$0.00$456.58$0.00
Taxes / mo$36.00$36.00$36.00
Insurance / mo$150.00$150.00$150.00
MI / mo$79.43$79.43$31.48
HOA / mo$250.00$250.00$250.00
Total monthly$982.19$1,438.77$1,533.83
Cash to close$78,368$17,490$17,490