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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$218,491$218,491$269,100
Remaining term (yrs)27.627.630.0
Secondary amount$0$50,609$0
Funding fee$0$0$0
Note rate6.990%6.990%7.400%
Blended rate7.540%7.815%7.640%
1st payment$1,487.78$1,487.78$1,863.19
2nd payment$0.00$379.57$0.00
Taxes / mo$32.33$32.33$32.33
Insurance / mo$150.00$150.00$150.00
MI / mo$102.60$102.60$53.82
HOA / mo$0.00$0.00$0.00
Total monthly$1,772.71$2,152.27$2,099.35
Cash to close$80,509$29,900$29,900