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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$58,070$58,070$217,800
Remaining term (yrs)7.27.230.0
Secondary amount$0$159,730$0
Funding fee$0$0$0
Note rate4%4%7.18%
Blended rate4.85%7.16%7.42%
1st payment$762.48$762.48$1,475.45
2nd payment$0.00$1,064.87$0.00
Taxes / mo$217.83$217.83$217.83
Insurance / mo$150.00$150.00$150.00
MI / mo$113.13$113.13$43.56
HOA / mo$310.00$310.00$310.00
Total monthly$1,553.44$2,618.31$2,196.85
Cash to close$183,930$24,200$24,200