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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$62,953$62,953$203,400
Remaining term (yrs)28.428.430.0
Secondary amount$0$140,447$0
Funding fee$0$0$0
Note rate6.76%6.76%7.11%
Blended rate7.31%7.786%7.35%
1st payment$415.48$415.48$1,368.28
2nd payment$0.00$936.31$0.00
Taxes / mo$220.83$220.83$220.83
Insurance / mo$150.00$150.00$150.00
MI / mo$29.33$29.33$40.68
HOA / mo$300.00$300.00$300.00
Total monthly$1,115.64$2,051.95$2,079.80
Cash to close$163,047$22,600$22,600