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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$57,463$57,463$216,000
Remaining term (yrs)28.028.030.0
Secondary amount$0$158,537$0
Funding fee$0$0$0
Note rate6.2%6.2%7.18%
Blended rate6.75%7.667%7.42%
1st payment$360.35$360.35$1,463.26
2nd payment$0.00$1,056.91$0.00
Taxes / mo$304.33$304.33$304.33
Insurance / mo$150.00$150.00$150.00
MI / mo$26.97$26.97$43.20
HOA / mo$0.00$0.00$0.00
Total monthly$841.65$1,898.56$1,960.79
Cash to close$182,537$24,000$24,000