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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$191,542$191,542$346,500
Remaining term (yrs)27.927.930.0
Secondary amount$0$154,958$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.475%7.42%
1st payment$1,239.31$1,239.31$2,347.31
2nd payment$0.00$1,033.05$0.00
Taxes / mo$272.17$272.17$272.17
Insurance / mo$150.00$150.00$150.00
MI / mo$89.87$89.87$69.30
HOA / mo$0.00$0.00$0.00
Total monthly$1,751.34$2,784.39$2,838.78
Cash to close$193,458$38,500$38,500