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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$283,851$283,851$364,500
Remaining term (yrs)26.826.830.0
Secondary amount$0$80,649$0
Funding fee$0$0$0
Note rate6.96%6.96%7.18%
Blended rate7.51%7.84%7.42%
1st payment$1,947.02$1,947.02$2,469.25
2nd payment$0.00$604.87$0.00
Taxes / mo$162.33$162.33$162.33
Insurance / mo$150.00$150.00$150.00
MI / mo$134.68$134.68$72.90
HOA / mo$68.67$68.67$68.67
Total monthly$2,462.70$3,067.57$2,923.15
Cash to close$121,149$40,500$40,500