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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$120,413$120,413$337,500
Remaining term (yrs)12.912.930.0
Secondary amount$0$217,087$0
Funding fee$0$0$0
Note rate5.38%5.38%7.11%
Blended rate6.23%7.208%7.35%
1st payment$1,074.67$1,074.67$2,270.38
2nd payment$0.00$1,402.02$0.00
Taxes / mo$307.57$307.57$307.57
Insurance / mo$150.00$150.00$150.00
MI / mo$135.86$135.86$67.50
HOA / mo$0.00$0.00$0.00
Total monthly$1,668.11$3,070.13$2,795.46
Cash to close$254,587$37,500$37,500