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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$69,322$69,322$220,500
Remaining term (yrs)16.616.630.0
Secondary amount$0$151,178$0
Funding fee$0$0$0
Note rate3.57%3.57%7.18%
Blended rate4.42%6.874%7.42%
1st payment$460.39$460.39$1,493.74
2nd payment$0.00$1,007.85$0.00
Taxes / mo$205.33$205.33$205.33
Insurance / mo$150.00$150.00$150.00
MI / mo$72.00$72.00$44.10
HOA / mo$390.00$390.00$390.00
Total monthly$1,277.72$2,285.58$2,283.18
Cash to close$175,678$24,500$24,500