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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$221,369$221,369$306,000
Remaining term (yrs)21.621.630.0
Secondary amount$0$84,631$0
Funding fee$0$0$0
Note rate4.59%4.59%7.18%
Blended rate5.44%6.425%7.42%
1st payment$1,342.32$1,342.32$2,072.95
2nd payment$0.00$634.73$0.00
Taxes / mo$419.58$419.58$419.58
Insurance / mo$150.00$150.00$150.00
MI / mo$185.69$185.69$61.20
HOA / mo$0.00$0.00$0.00
Total monthly$2,097.59$2,732.32$2,703.73
Cash to close$118,631$34,000$34,000