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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$174,506$174,506$202,500
Remaining term (yrs)26.726.730.0
Secondary amount$0$27,994$0
Funding fee$0$0$0
Note rate6.71%6.71%7.18%
Blended rate7.26%7.501%7.42%
1st payment$1,170.06$1,170.06$1,371.81
2nd payment$0.00$209.96$0.00
Taxes / mo$218.33$218.33$218.33
Insurance / mo$150.00$150.00$150.00
MI / mo$83.02$83.02$40.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,621.41$1,831.37$1,780.64
Cash to close$50,494$22,500$22,500