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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$116,214$116,214$349,200
Remaining term (yrs)12.212.230.0
Secondary amount$0$232,986$0
Funding fee$0$0$0
Note rate5%5%7.18%
Blended rate5.85%7.118%7.42%
1st payment$1,053.65$1,053.65$2,365.60
2nd payment$0.00$1,504.70$0.00
Taxes / mo$454.79$454.79$454.79
Insurance / mo$150.00$150.00$150.00
MI / mo$139.03$139.03$69.84
HOA / mo$0.00$0.00$0.00
Total monthly$1,797.47$3,302.18$3,040.24
Cash to close$271,786$38,800$38,800