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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$89,087$89,087$112,500
Remaining term (yrs)28.428.430.0
Secondary amount$0$29,663$0
Funding fee$0$0$0
Note rate6.76%6.76%7.18%
Blended rate7.31%8.45%7.42%
1st payment$587.95$587.95$762.11
2nd payment$0.00$293.54$0.00
Taxes / mo$123.75$123.75$123.75
Insurance / mo$150.00$150.00$150.00
MI / mo$41.51$41.51$22.50
HOA / mo$0.00$0.00$0.00
Total monthly$903.21$1,196.75$1,058.36
Cash to close$35,913$6,250$12,500