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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$153,275$153,275$211,500
Remaining term (yrs)24.124.130.0
Secondary amount$0$58,225$0
Funding fee$0$0$0
Note rate2.800%2.800%7.400%
Blended rate3.650%5.123%7.640%
1st payment$726.21$726.21$1,464.38
2nd payment$0.00$436.69$0.00
Taxes / mo$42.00$42.00$42.00
Insurance / mo$150.00$150.00$150.00
MI / mo$125.19$125.19$42.30
HOA / mo$0.00$0.00$0.00
Total monthly$1,043.40$1,480.09$1,698.68
Cash to close$81,725$23,500$23,500