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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$168,180$168,180$207,000
Remaining term (yrs)24.124.130.0
Secondary amount$0$38,820$0
Funding fee$0$0$0
Note rate2.83%2.83%7.18%
Blended rate3.68%4.678%7.42%
1st payment$801.33$801.33$1,402.29
2nd payment$0.00$291.15$0.00
Taxes / mo$191.67$191.67$191.67
Insurance / mo$150.00$150.00$150.00
MI / mo$137.61$137.61$41.40
HOA / mo$245.00$245.00$245.00
Total monthly$1,525.60$1,816.75$2,030.36
Cash to close$61,820$23,000$23,000