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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$242,082$242,082$283,500
Remaining term (yrs)26.526.530.0
Secondary amount$0$41,418$0
Funding fee$0$0$0
Note rate6.6%6.6%7.18%
Blended rate7.15%7.42%7.42%
1st payment$1,611.59$1,611.59$1,920.53
2nd payment$0.00$310.63$0.00
Taxes / mo$96.25$96.25$96.25
Insurance / mo$150.00$150.00$150.00
MI / mo$115.66$115.66$56.70
HOA / mo$0.00$0.00$0.00
Total monthly$1,973.50$2,284.13$2,223.48
Cash to close$72,918$31,500$31,500