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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$7,387$7,387$184,500
Remaining term (yrs)27.827.830.0
Secondary amount$0$177,113$0
Funding fee$0$0$0
Note rate6.67%6.67%7.18%
Blended rate7.22%7.969%7.42%
1st payment$48.66$48.66$1,249.87
2nd payment$0.00$1,180.75$0.00
Taxes / mo$207.83$207.83$207.83
Insurance / mo$150.00$150.00$150.00
MI / mo$3.43$3.43$36.90
HOA / mo$490.00$490.00$490.00
Total monthly$899.92$2,080.67$2,134.60
Cash to close$197,613$20,500$20,500