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$110,952$110,952$292,499
Remaining term (yrs)10.710.730.0
Secondary amount$0$181,547$0
Funding fee$0$0$0
Note rate6.62%6.62%7.11%
Blended rate7.47%7.799%7.35%
1st payment$1,198.04$1,198.04$1,967.66
2nd payment$0.00$1,210.31$0.00
Taxes / mo$201.67$201.67$201.67
Insurance / mo$150.00$150.00$150.00
MI / mo$132.60$132.60$58.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,682.31$2,892.62$2,377.83
Cash to close$214,047$32,500$32,500