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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$279,081$279,081$310,500
Remaining term (yrs)26.826.830.0
Secondary amount$0$31,419$0
Funding fee$0$0$0
Note rate6.78%6.78%7.18%
Blended rate7.33%7.499%7.42%
1st payment$1,881.76$1,881.76$2,103.44
2nd payment$0.00$235.64$0.00
Taxes / mo$87.25$87.25$87.25
Insurance / mo$150.00$150.00$150.00
MI / mo$132.57$132.57$62.10
HOA / mo$0.00$0.00$0.00
Total monthly$2,251.57$2,487.22$2,402.79
Cash to close$65,919$34,500$34,500