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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$70,399$70,399$250,200
Remaining term (yrs)5.05.030.0
Secondary amount$0$179,801$0
Funding fee$0$0$0
Note rate7%7%7.18%
Blended rate7.85%7.958%7.42%
1st payment$1,374.89$1,374.89$1,694.94
2nd payment$0.00$1,198.67$0.00
Taxes / mo$428.58$428.58$428.58
Insurance / mo$150.00$150.00$150.00
MI / mo$146.38$146.38$50.04
HOA / mo$0.00$0.00$0.00
Total monthly$2,099.86$3,298.53$2,323.57
Cash to close$207,601$27,800$27,800