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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$7,025$7,025$153,900
Remaining term (yrs)24.224.230.0
Secondary amount$0$146,875$0
Funding fee$0$0$0
Note rate6.85%6.85%7.18%
Blended rate7.4%7.973%7.42%
1st payment$49.49$49.49$1,042.57
2nd payment$0.00$979.17$0.00
Taxes / mo$189.83$189.83$189.83
Insurance / mo$150.00$150.00$150.00
MI / mo$3.30$3.30$30.78
HOA / mo$375.00$375.00$375.00
Total monthly$767.63$1,746.79$1,788.19
Cash to close$163,975$17,100$17,100